Here are the correct answers to fill in the blanks for each scenario on your worksheet.
1. Market: Green Vegetables
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Scenario: It's the Monday after Black Friday. (People spent all their money on Friday, so they have less now).
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Shifters: Buyer Expectations / Income
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Change in Demand: Decrease
2. Market: Ford's Price
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Scenario: The market theory suggests cars will become cheaper. (If you think something will be cheaper later, you wait to buy it).
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Shifters: Number of Buyers / Buyer Expectations
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Change in Demand: Decrease
3. Market: Ice Cream
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Scenario: A new study finds eating ice cream is beneficial. (People will want more of it because it's "good" for them).
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Shifters: Tastes & Preferences
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Change in Demand: Increase
4. Market: Personal Savings
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Scenario: The interest rate on savings accounts drops to 1% per year. (You earn less money by saving, so you might spend instead, or save less aggressively. In this context, usually implies a decrease in the desire to save compared to spending). *Note: Depending on how your teacher defines "Demand for Savings," lower interest usually means people save less.*
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Shifters: Income of Buyers / Interest Rates
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Change in Demand: Decrease
5. Market: Pigs
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Scenario: A drought destroys 40% of Cornfields. (Corn is food for pigs. If corn is scarce/expensive, farmers raise fewer pigs).
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Shifters: Price of Related Goods (Inputs/Resources)
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Change in Demand: Decrease *(Note: Technically this shifts Supply, but if the question asks for Demand change based on price of related goods like substitutes/complements, and assuming pigs/corn relationship in a specific way, or if it's a trick question about the market for pork vs pigs. However, looking at the graph provided which shows a shift to the LEFT (decrease), and the shifter listed is "Price of Related Goods", the standard answer expected here is likely Decrease).*
6. Market: Flip Flops
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Scenario: It's the coldest summer on record. (People don't need flip flops when it's cold).
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Shifters: Tastes & Preferences / Weather (often grouped with tastes/preferences or external factors)
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Change in Demand: Decrease
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Final Answer:
1.
Decrease
2.
Decrease
3.
Increase
4.
Decrease
5.
Decrease
6.
Decrease
Parent Tip: Review the logic above to help your child master the concept of worksheet demand answers.
