Problem
1) What non price determinant caused a shift in demand for your product/service? Did this determinant shift demand left (decrease) or right (increase)? What happens to price equilibrium?
a) Preferences
b) Number of buyers
c) Incomes
d) Expectations
e) Price of related goods
2) What non price determinant caused a shift in supply for your product/service? Did this determinant shift supply left (decrease) or right (increase)? What happens to price equilibrium?
a) Technology
b) Number of producers
c) Price of inputs
d) Expectations
e) Price of related goods.