Supply & Demand Project

Supply & Demand Project

Create 10 graphs of different markets using the different determinants of supply and demand.

Requirements:

1. They must all markets for DIFFERENT goods. No market can be reused. No market can show more than one good at a time. Market must be explicitly labeled.

2. Each graph must properly show a shift in either supply or demand using arrows. All lines and axes must be labeled correctly.

3. Each graph must have a one-two sentence explanation of the real-life reason for the shift. Be specific.

4. You can only use each determinant once. There are 15 different determinants (listed below), you are required to use 10 different ones.

5. All 10 graphs must be displayed neatly and creatively in the format below (or on the printed scaffold).

Determinants of Demand (Each may only be used once)

Change in number of consumers or population

Change in income (for a normal or inferior good).

Change in the price of a substitute

Change in the price of a complement

Change in consumer expectations of future price

Change in consumer expectations of future income

Change in consumer tastes and preferences

Change in demand for a resource (based on product produced).

Determinants of Supply (Each may only be used once)

Change in the number of suppliers

Change in costs

Change in taxes or subsidies

Change in the physical availability of resources

Change in technology or productivity

Change in producer expectations of future price

Change in the price of a substitute in production