Exam 1 (supply and demand packet page 9-10)

Saudi Arabia gets into a conflict with Iran. What happens to the supply of gas?

Incomes fall. What happens to the demand for a used car (inferior good)?

Growing concern for the environment spreads across china. What happens to the demand for gas?

Gas gets cheaper. What happens to the demand for a Chevy volt (electric car)?

Grocery store checkout scanners get faster. What happens to the supply of groceries?