Discuss the below:
Using the table below, for each line item, write a paragraph describing how the market for each specific product will be affected by the associated event. Describe which curve will shift (demand or supply or both), what effect it will have on price (rise or fall in price), and what will happen to quantity (rise or fall in quantity). Each line item requires a paragraph.
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Event
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market for:
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Economic growth is expected to improve in the next two quarters.
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Aluminum
|
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Fire at an oil refinery in the Gulf will not be fixed for a month.
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Gasoline
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The Japanese government has decided to subsidize its domestic automobile producers with stimulus money.
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Automobiles
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Manufacturers who use plastic as an input have
access to cheaper plastic.
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Manufactured goods
that use plastic as an
input
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