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Supply and Demand Scenarios

Last updated almost 4 years ago

5 questions

3

Question 1

1.

A famous athlete is now the new spokesperson for Gatorade. Customers LOVE this athlete! Answer the following questions. Make sure you are thorough with your answers!!

1. Does this affect the current demand OR supply of Gatorade? (Tell me which one!!)
2. Does it increase or decrease?
3. Why do you think it makes demand or supply increase/decrease?

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Question 2

2.

Two convenience stores in town shut down which means there is only one place to purchase Gatorade. Answer the following questions. Make sure you are thorough with your answers!!

1. Does this affect the current demand OR supply of Gatorade? (Tell me which one!!)
2. Does it increase or decrease?
3. Why do you think it makes demand or supply increase/decrease?

Question 3

3.

The managers of the local grocery store find out that Gatorade is having a nationwide sale next week. Answer the following questions. Make sure you are thorough with your answers!!

1. Does this affect the current demand OR supply of Gatorade? (Tell me which one!!)
2. Does it increase or decrease?
3. Why do you think it makes demand or supply increase/decrease?

Question 4

4.

The local high school is hosting a huge basketball tournament with 50 teams. Numerous athletes are in town for the weekend. Answer the following questions. Make sure you are thorough with your answers!!

1. Does this affect the current demand OR supply of Gatorade? (Tell me which one!!)
2. Does it increase or decrease?
3. Why do you think it makes demand or supply increase/decrease?

Question 5

5.

The weekly newspaper is delivered to customers and there is an advertisement in it showing Gatorade on sale next week. Answer the following questions. Make sure you are thorough with your answers!!

1. Does this affect the current demand OR supply of Gatorade? (Tell me which one!!)
2. Does it increase or decrease?
3. Why do you think it makes demand or supply increase/decrease?