Event

Market affected by event

Shift in supply/demand/both

Explain

Frozen orange crops in california

Orange juice

Supply (left)-not as many available oranges to offer consumers. Price will increase and quantity will decrease. Hurricanes in the gulf coast

Tourism in caribbean coast

Demand (right)- people will switch to touring the caribbean than the gulf coast

Price will increase because of increase in demand

Cost of cotton decreases

Clothing

Supply(right)- cost of production decreases

Price decreases, quantity increases

Technology improves efficiency in pasta manufacturing

Restaurant-prepared meals

Demand (left)- price of pasta will decline and thus people will demand more of pasta than other restaurant-prepared meals

Price decreases, due to decline in demand

list two types of related...