Question

For each of the following events, identify which of the determinants of demand or supply are affected. If demand is unaffected by this event because it creates only a supply change, select the “None” option under the “Demand Determinant” column. Similarly, if supply is unaffected by this event because it creates only a demand change, select the “None” option under the “Supply Determinant” column.

for the table below here are the options:
Demand Determinant: Income, Price of substitude or complement, Tastes, Expectations, Number of buyers, None

Supply Determinant: Input prices, Technology, Expectattions, Number of sellers, None.

Consider the market for minivans. Assume minivans are a normal good For each of the following events, identify which of the determinants of demand or supply are affected. If demand is unaffected by this event because it creates only a supply change, select the "None" option under the "Demand Determinant" column. Similarly, if supply is unaffected by this event because it creates only a demand change, select the "None" option under the "Supply Determinant" column. Demand Determinant Supply Determinant Event People decide to have more children. A strike by steelworkers raises steel prices Engineers develop new automated machinery for the production of minivans. The price of sports utility vehicles rises. A stock-market crash lowers people's wealth.

Answer 1