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Documented Problem Solving: Identifying a Change in Demand and Its Impact

During the lecture, the determinants of demand and supply were discussed. The impact of a shift in supply or demand and the change to equilibrium price and quantity were also demonstrated. In this activity, students are asked to identify a change in "tastes or preferences" as a determinant of demand. They then are asked to determine the impact that the change in demand will have on the equilibrium price for the good....

Disciplines:

Business / Economics / Micro

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More about this material

Material Type:: Drill and Practice
Date Added to MERLOT:: January 2, 2023
Date Modified in MERLOT:: March 9, 2023
Author:: Linda Wilson, The University of Texas at Arlington
Submitter:: Cathy Swift

Primary Audience:: College General Ed, College Lower Division
Technical Format:: Website
Mobile Compatibility:: Not specified at this time
Language:: English
Cost Involved:: No
Source Code Available:: Unknown
Creative Commons:: This work is licensed under a Attribution-NonCommercial-ShareAlike 4.0 International