- For Each Observed Situation All Of Which Are From Real Life Pick The Change In Supply And Or Demand That Is The Bes 1 (32.77 KiB) Viewed 24 times
- A decreas in demand along w/ a decrease in supply
- A decrease in demand
- A decrease in supply
- A decreas in demand along w/ a increase in supply
- An increase in demand along w/ a increase in supply
- An increase in demand
- An increase in supply
- An increase in demand along w/ a decrease in supply
For each observed situation (all of which are from "real life"), pick the change in supply and/or demand that is the best explanation. In late 2005 and for much of 2006, fewer newly-built houses were being. sold in the Phoenix area, yet the prices of all houses (including new ones) were rising very dramatically. Natural gas prices rose dramatically between February and March of 2003, yet the consumption of gas (averaged per day) was about the same in the two months. Each Feb. 15 (the day after Valentine's day), stores cut the prices of Valentine's Day candy and gifts, but fewer are bought that day than on Feb. 13. In the week or so following the Christmas/ Hanukkah holidays, gasoline prices fell while the quantity of gasoline that was purchased from gas stations each week remained about the same. The prices of DVD recorders are falling, and more of them are bought each month.. Choose... Choose... Choose... Choose... Choose...