ECON 200

10 Pointer: Demand and Supply

Name: ……………………….

Question 1: First row in the tables below is completed. Complete rest of the table similarly.

Factors Shifting Demand Curve

When the price . . . demand for When the price . . . demand for
of a substitute the original good of a substitute the original good
rises . . . increases. falls . . . decreases.

When the price When the price

of a complement of a complement
falls . . . rises . . .

When tastes When tastes

change in favor change against
of a good . . . a good . . .

When the price When the price

is expected to is expected to
rise in the fall in the
future . . . future . . .
When the When the
number of number of
consumers rise. . . consumers fall. . .
Factors Shifting Supply Curve
When the price . . . supply When the price . . . supply
of an input of the good of an input of the good
falls . . . increases rises . . . decreases

When the technology When the best

1
 used to produce the technology used
good improve. . . to produce the
good is no longer
available . . .
When the price is When the price is
expected to fall expected to rise
in the future . . . in the future . . .
When the number When the number
of producers of producers
rises . . . falls . . .

Question 2: Because of the raising popularity of the plant-based meats in the US, even people who never heard of the plant-based
meat before are buying it. At the same time, plant-based meat producers are teaming with the major food retailers all around the US so
that the meat is available in the store. Because of these two events, what is the effect on the price of the plant-based meat and on the
number of plant-based meat purchased in the US?