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ACTIVITY 10 : CHANGES IN EQUILIBRIUM

This activity explores significant market events impacting equilibrium and price changes. From wheat droughts that devastate crops to consumer boycotts of redwood lumber, the dynamics of supply and demand are illustrated through various scenarios. Government interventions, such as payments to the cigar industry and tax reductions affecting digital camera sales, highlight the complex interactions in economics. Additionally, shifts in tofu and soybean prices, alongside new pesticide implications for apple production, further illustrate the continuous evolution within markets.

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ACTIVITY 10 : CHANGES IN EQUILIBRIUM

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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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