Demand (TRIBE)

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Atlanta Technical College *

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MISC

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Economics

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Feb 20, 2024

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docx

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Uploaded by CorporalMetal13462

Demand (TRIBE) Which headline did you choose? "Influencers claim orange juice cured their insomnia; grocery stores start to run out of orange juice. What is the product in the headline? Orange juice. What happened to the demand? (Did it increase or decrease?) Demand increased; supply went down Why did this happen based on TRIBE? Explain (Be sure to write what item on TRIBE you think is addressed in the headline and which way the demand curve shifted) Tastes. Influential creators spread the idea of an insomnia curing orange juice which led to the demand shifting to the left. Draw a demand Orange juice Supply and Demand graph

graph. Draw a basic market graph. Title it the market for the product in your news article. Label the axes, curves, equilibrium price "Pe," and equilibrium quantity "Qe." (SEE SAMPLE FOR ASSISTANCE) Add the shift. Draw a new curve on your graph to reflect the shift in demand. Label it D1 Label the new equilibrium price P1 and the new equilibrium quantity Q1. Add arrows to show the direction of the changes in the curve, price, and quantity Supply (ROTTEN) Which headline did you choose? "Shortage of microchips continues: car manufacturers warn of delays in production of cars and higher prices." What is the product in the headline? Mircochips. What happened to the Microchip Supply and Demand graph

supply? (Did it increase or decrease?) Supply decreased. Why did this happen based on ROTTEN? Explain (Be sure to write what item on ROTTEN you think is addressed in the headline and which way the SUPPLY curve shifted) Resource. Microchips began to have less availability while maintaining a steady demand, therefore resulting in a price increase and a supply decrease. I will address the curve in the graph. Draw a SUPPLY graph. Draw a basic market graph. Title it the market for the product in your news article. Label the axes, curves, equilibrium price "Pe," and equilibrium quantity "Qe." (SEE SAMPLE FOR ASSISTANCE) Add the shift. Draw a new curve on your graph to reflect the shift

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in supply Label it S1.. Label the new equilibrium price P1 and the new equilibrium quantity Q1. Add arrows to show the direction of the changes in the curve, price, and quantity

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