Which curve does this event move?
Exercise and reference answers
- Left
- Demand
- Items
- Item
- Buyer incomes rise
- Answer
- Demand
- Item
- Steel prices rise
- Answer
- Supply
- Item
- Buyer tastes shift
- Answer
- Demand
- Item
- Cheap substitutes
- Answer
- Demand
- Item
- New technology
- Answer
- Supply
- Item
- A drought hits
- Answer
- Supply
- Item
- Population grows
- Answer
- Demand
- Item
- A subsidy is paid
- Answer
- Supply
- Right
- Supply
- Instructions
- Swipe left if the event shifts demand, right if it shifts supply.
Explanation
_Source: OpenStax Principles of Macroeconomics for AP Courses, section 3.2 Shifts in Demand and Supply for Goods and Services_