Carefully explain what is happening in the following markets. Indicate the impact if any on demand, supply, price and quantity. A new discovery in computer manufacturing has made computer production cheaper. Also, the popularity and usefulness of computers continues to grow. Impact on demand: _________________ Impact on supply: ­­­_________________ Impact on price: __________________ Impact on quantity: ________________ USE THE OPTIONS BELOW TO FILL IN THE BLANK SPACES: Excess demand Change in price is uncertain Change in quantity is uncertain Increase equilibrium Increase towards equilibrium Decrease equilibrium quantity Decrease equilibrium price No impact Shift outwards/to right Increase equilibrium quantity Shift inwards/to left Decrease towards equilibrium Excess Supply

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