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Economic Changes in Consumer Goods Market

Explore how market equilibrium shifts due to various events such as drought affecting wheat crop, consumer boycotts on redwood lumber, and government interventions supporting industries like cigars and digital cameras. Discover the impacts of price changes in products like paper, tofu, and apples, influenced by factors like taxes, ingredient costs, and regulatory decisions.

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Economic Changes in Consumer Goods Market

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  1. ACTIVITY 10: CHANGES IN EQUILIBRIUM PRODUCT EVENT 1. Wheat Drought Destroys Crop 2. Redwood Lumber Consumers Boycott Redwood Lumber 3. Cigars Gov’t Payments Support Cigar Industry 4. Digital Cameras Gov’t decreases income taxes 5. Paper Price of Wood Pulp (* main ingredient) Rises 6. I-phones Cases half-off * You don’t need to write ‘main ingredient’…unless you want to.

  2. ACTIVITY 10: Changes in Equilibrium PRODUCT EVENT 7. Tofu Meat Prices Increase 8. Tofu Soybean (* main ingred- ient) Prices Down 9. Tofu Tofu Price Increase 10. Apples New Pesticide Kills Apple Pests 11. Apples Gov’t Bans Pesticides 12. Apples Apple Prices Expected To Decrease

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