Question

Hello, I’m having trouble answering these questions it would be great if I could get some simple concise answers. So I can get a better understanding.

5. Think about a product that you have recently purchased. What factors affected your decision? For example, how important was the price of the product? How important were other things such as your income, the prices of other goods, your preferences, your expectations about future prices in your decision making? Can you draw your demand curve for this product and also show how other things can change your demand on the graph? For each of the following markets, indicate whether the stated change causes a shift in the supply curve, a shift in the demand curve, a movement along the supply curve, or a movement along the demand curve. 6. a) The housing market: Consumers' incomes fall. b) The tea market: The price of sugar goes down. c) The coffee market: The price of tea goes down d) The fast-food market: The number of fast-food restaurants in an area decreases. e) The peanut market in the U.S. Southeast: A drought severely damages the crop