Quiz and answers Price_Elasticity_Demand_Key. Start on Supply Curve C for number 10, then shift from the new location for number 11. But climate change will not only affect crops—it will also impact meat production, fisheries and other fundamental aspects of our food supply. As you can see from our discussions on aggregate demand and supply, their curves, and what shifts aggregate demand and supply, this topic is the bedrock of macroeconomics. Recent discoveries of a humanlike hyoid bone, burial practices, musical instruments, weapons, and other signs of culture have started to shift the picture in even the evolutionists’ minds. does not shift. Key Terms supply, Law of Supply, supply schedule, supply curve, market supply curve, quantity supplied, change in quantity supplied, change in supply, subsidy, supply elasticity Objectives After studying this section, you will be able to: 1. A set of questions on the concepts of a function, in calculus, are presented along with their solutions. Supply And Demand. About This Quiz & Worksheet. 4 kcal ↔ H 2(g) + Br 2 (g) When the temperature is increased, the equilibrium will shift to the (A)right, and the concentration of HBr(g) will decrease (B)right, and the concentration of HBr(g) will increase. Our website makes a great companion to language arts classes, homeschooling, and ESL courses. At a lower price, a lesser quantity is supplied. 17 "Changes in Demand and Supply". (See Key Questions 5, 7, 8): Leftward shift in curve illustrates cost‑push inflation (see Figure 11-11). Demand And Supply - Displaying top 8 worksheets found for this concept. Find Demand Curve lesson plans and worksheets. You can be creative as long as it relates to a determinant of demand. Label: price, quantity, demand curve (D1), and supply curve (S1) B. The objective and constraints in linear programming problems must be expressed in terms of linear equations or inequalities. Chapter 06. In contrast, firms are willing to supply more output when the prices of the inputs to production decrease. Give your answers to the problem and then leave a problem of your own. If the tense of each underlined verb expresses the time relationship accurately, write S (satisfactory). TRANSFERRING 1. supply of Greebes on the axes in Figure 5. Economics – Answer key for selected exercises This answer key is for teacher use only – please do not distribute directly to students, either electronically or in paper form. A) The supply and demand curves both shift rightward. Costs and Production Methods. In chapter 9 the level of economic activity was explained by changes in key expenditures - consumption, investment, government expenditure and net exports. Students should receive credit for accurate alternate responses. When most people think of paradise, chances are they’re thinking of tropical islands in far-flung corners of the world. The activity then focuses on the factors that shift the supply curve. The answers are in red. •Demand is the desire, willingness, and ability to buy a good or service. equilibrium on the axes below using a properly labeled supply and demand diagram. Based on Scenario 9, the demand curve for soft drinks. -Resources: we never have enough to satisfy all of our wants. 2NH 3 (g) N 2 What is K c? -2 2-2 3 2 3 3 2 c 1. Perfect Competition. Calculate the percentage change in price _____ b. AP Economics Review Information. Rlc Circuit Resonance. The wage increase for bus drivers increases the cost of production, and the supply curve will shift up and to the left (a decrease in supply). If the price of a substitute declines, then the demand curve for the substitute product shifts to the left. To minimize Xenon concentration shifts and the resultant oscillations. Issuu company logo. Fill in the prices on the y-axis labeled Price, and the quantity supplied on the x-axis labeled Quantity Supplied. Once you have identified certain days or sessions that do not have a consistent number of providers, the schedules should be adjusted to smooth out supply. Site maintained by Charles Burrows. So supply curve would shift to right, demand curve stay at the same point and the price could be Pe1 when both, consumer and. Demand and Supply — It’s What Economics is About Lesson Plan. In Part B, students analyze additional charts and choose whether or not the price and quantity of given commodities will rise, fall, or stay the same. Demand is likely to fall, implying a shift left in the demand curve and a negative income elasticity of demand. As you can see from our discussions on aggregate demand and supply, their curves, and what shifts aggregate demand and supply, this topic is the bedrock of macroeconomics. Supply shifter: government actions O: Fire destroys thousands of acres of Forest in Pacific northwest Oregon Lumber the supply curve shifts to the left, or. This worksheet is really a giant, graphical matching problem. Students will be given a worksheet the shows a political cartoon about big business and asks several questions. Demand And Supply - Displaying top 8 worksheets found for this concept. Effective communication is key here. In this assignment, students will answer 10 problems - each one provides a specific event. Will the bivariate regression of Y on X i have the same coefficient estimate and standard. The angle is measured to be 110 degrees, and that is the bearing of B from A. Be sure to label the original demand curve as "D1" and the shifted demand curve as "D2" and draw arrows to show if the demand curve. Use the information in your textbook to answer the questions. In the words of F. This means that when 1 window is made, 5 gates are given up; therefore, the opportunity cost of making 1 window frame is 5 gates. this would be "E" in "ROTTEN" for Expectations of. While these are determinants, focus on the other 6). conversation hearts at CVS? Show the shift in the demand curve below and list the determinant. Free body diagram answer key. This Shifts in Supply and Demand Worksheet is suitable for 10th - 12th Grade. 80 the supply is 300 and the demand is 160, so there are 140 unsold buttons. Chapter 04. etownschools. Noun phrase: to win the first prize; it acts as the object of the verb hope. The result is that the demand curve for used Cadillacs shifts to the left, while the supply curve shifts to the right. What are the conditions necessary for equilibrium? Must have a closed system. Explain how the interaction of supply and demand results in an equilibrium price. Wiki User It is a minor point, but if a supply curve shifts, the elasticities may or may not remain valid. Bad answer: expansionary monetary policy shifts AD out ii. Note - Answers for the definition questions can be taken from the lessons directly EP1 2. Key Terms and Concepts: Convergent and divergent evolution, adaptation, derived traits, climate change, ecology, morphology, habitat, environment. Anything that shifts SRAS to the right will shift SRPC to the left. The case study solutions which are available may conflicts with the student’s solution as the thought and ideas are different and there is no standard answer for the online case study available. A key is a piece of metal that fits inside a lock and turns to open it. The equilibrium price falls to $5 per pound. chapter 20 protists answer key. Shifts in demand The position of the demand curve will shift to the left or right following a change in an underlying determinant of demand. The teaching assistant notes common mistakes made by students and provides problem solving techniques for approaching similar questions on the problem set and exams. Using Avida-ED freeware, students control a few factors in an environment populated with digital organisms, and then compare how changing these factors affects population growth. Explain why. How is the price for an Ipad or any good determined? 2. This indicates a(n) increase or decrease in supply. Supply Defined. Given the equilibrium reaction at constant pressure: 2 HBr(g) + 17. Costs for producers are very high—most notably, producing alcohol is an illegal activity—so they supply less at all prices. All shifts will occur on 1 graph. We offer professional help with questions in a variety of economics topics you may find confusing or difficult to comprehend. In addition, students study shifts in an aggregate supply chart and answer 9 fill in the blank questions. • As price increases, the quantity producers make increases •. Go To -> Worksheet - Answer Key - Solutions Manual What is Le Châtelier’s Principle? Le Châtelier’s Principle states that if a change in conditions is imposed on a system at equilibrium, and that change pushes the system out of equilibrium, the reaction will shift to the direction that reduces the effects of that change. Super Awesome Supply Review Worksheet Directions: Each section will explore the supply for a particular product. Calculate the percentage change in price _____ b. If you need assistance with your economics homework problems or need answers to economics worksheet, test or quiz questions, be it multiple choice or free answer questions, Assignment Expert will be glad to provide it. Displaying all worksheets related to - Determinants Of Demand. Assessment: students will fill out a worksheet. Supply shifter: government actions O: Fire destroys thousands of acres of Forest in Pacific northwest Oregon Lumber the supply curve shifts to the left, or. What is a lichen?. Answer Key for Exam 2 F 255 30. Worksheet on Elasticity. How is a demand curve similar to a demand schedule? How is it different? 5. (The supply curve shifts down the demand curve so price and quantity follow the law of demand. 6 Jamie Shaw, Champlin Park High School: jamie. •Based on that definition, which of the following do you have a. 2 million-pair import quotas on all shipments from foreign plants to Europe-Africa. Unemployment is at an all-time high in Rhode Island. Phase Changer Circuit. •Based on that definition, which of the following do you have a. Making Good Decisions. Price Quantity 0 Plot your supply curve using the information above on the same chart as you plotted your demand curve. In this assignment, students will answer 10 problems - each one provides a specific event. •The supply curve shifts to the left because fewer goods are brought to the market at every possible price. Questions Microeconomics (with answers) 1a Markets, demand and supply 01 Price and quantity 1 Price Demand Supply 0 100 0 1 80 30 2 60 60 3 40 90 4 20 120 5 0 150 Draw demand and supply using a graph. A shortage happens when demand is greater than supply, to put it differently, once the price is too low. In this video I explain supply, the law of supply, the shifters of the supply curve, equilibrium, surplus, and shortage. Within months of continuous use, you can absolutely feel the great improvement of your lifeless thin hair, making it healthier, stronger and thicker. In the video below, a teaching assistant demonstrates his approach to the solution for problems 1 and 4 from the problem set. leftward shift in the supply curve. 175) Multiple Choice: 11. , small and tiny; these two words have similar meanings. Reporting back to the larger group can be facilitated by tossing a soft ball to a random pair and asking them to share part of their answer. Car Alternator Circuit. The quiz can be downloaded here (in pdf format) along with a quiz with answers included. One way to lessen the stress and accelerate the learning is with our third grade worksheets. Economics Chapter 4 Demand Worksheet Answers. The supply for everything by all firms. Answer Key Unit 1: Microeconomics Module 1: Methodology: Demand and Supply 1. Graph the resulting change in equilibrium price. You might have a key ring with a house key, a car key, and maybe several more keys. Be prepared to discuss your answers next period. Step 1 - E L A S T I C or INELASTIC? Price Elasticity of Demand is a measure of how responsive demand is to a change in price. Answer: (a) A fall in the danger of the occupation, other things being equal, should increase the attractiveness of that occupation, shifting the supply curve to the right and causing employment to rise and wages to fall. Determinants Of Demand. 3 The Supply Curve 9 What Causes Shifts in the Supply Curve? 10 Changes in input prices. In each of the following cases, in the short run, determine whether the events cause a shift of a curve or a movement along a curve. No, that's not right. 70 minutes to answer 20 questions are definitional Example: The unemployment rate measures the percentage of (A) people in the labor force who do not have jobs (B) people in the labor force who have a part-time job but are looking for a full-time job. -Resources: we never have enough to satisfy all of our wants. Rightward shift in curve will cause a decline in price level (see Figure 11-12). The PPC or production possibility curve/ frontier is a presumptive depiction of the different conceivable combinations of two goods that can be produced within the given available resource. The answers to these example problems are at the end of this handout. A change in supply is a shift of the curve whereby more or less is supplied at every price. ) and its value is denoted by Q (or Q c or Q p if we wish to emphasize that. Prompt Increase or decrease? supply decreases shifts inward or left 2, Price - t, Quantity -l Before-Pl QI Change — Price of movie tickets t Supply or Demand first? demand. Displaying top 8 worksheets found for - Right Curve. Chem 12 Practice Worksheet - Answer Key Key page 1 Equilibrium #1 (KEY) 1. The demand curve will shift to the right reflecting a higher price where supply and demand intersect. 5% of the manufacturing costs of the pairs shipped and exchange rate shifts of as high as 10%. Yes, that's correct. In this chapter, pay careful attention to factors that shift the position of the demand and supply curves. See more about these Chinese Belief Systems from Key Concept 2. Activity 5 has the students graph a supply schedule and helps them understand the implica- tions of a shift in the supply curve. Choose the one alternative that best completes the statement or answers the question. Answers will vary greatly but the idea to get from the students is anything that affects the supply or demand will affect how much is. You can be creative as long as it relates to a determinant of demand. Economics Steering Committee and as a test item writer. pecans sold worldwide. Workbook for the New I. Otten, owner, decides to decrease the price of these computers to $750. In your response, select the first unanswered problem from the table. excise tax—A tax on the sale or use of specific products or transactions. " A hiring manager may want to see what he or she might think of as right answers, but an answer key doesn't actually exist. shifts of the demand curve worksheet answers. Chapter-wise Short Questions & Answers in Basic Electronics You will find lots of questions and answers in each chapter. supply of Greebes on the axes in Figure 5. Understanding the patterns of both demand and supply on a weekly, monthly, or seasonal basis allows for focused efforts to shape demand to match supply, and/or increase (or decrease) supply during periods of high (or low) demand. As You Read As you read Section 2, answer the following questions in the space provided. A change in quantity supplied refers to a movement along the supply curve, which is caused only by a change in price. 1 Demand for Greebes 1 and answer the questions that follow. Normal and inferior goods change based on someone's _____. The answer is no. If a price change leads to a considerably bigger change in quantity demanded, we would consider the good to be responsive to a price change—hence. Recognize which factors will cause demand curves or supply curves to shift. This means that when 1 window is made, 5 gates are given up; therefore, the opportunity cost of making 1 window frame is 5 gates. But the Neolithic Revolution only spreads to areas which are suitable for farming. Free printable worksheets (pdf) with answer keys on Algebra I, Geometry, Trigonometry, Algebra II, and Calculus Plus each one comes with an answer key. The black lines represent the original condition of the economy. Good answer: expansionary monetary policy shifts the money supply curve to the right, thus lowering interest rates which attracts more investment and shifts AD out d. Create two shifting curves; 1 to the right and 1 to the left. progressive tax—A tax that takes a larger percentage of income from high-income groups than from low-income groups. Assembled by AP® experts and divided into short modules, the organization, language, and emphasis perfectly mirrors College Board’s curriculum framework. Supply and Demand Practice. – Supply can refer to one individual consumer or to the total demand of all consumers in the market (market demand). Note - Answers for the definition questions can be taken from the lessons directly EP1 2. Create a Demand Curve (worksheet). Questions Microeconomics (with answers) 2a Elasticities 01 Price elasticity of demand 1 If the price rises by 3 %, the quantity demanded falls by 1. You will be assessed on causes and consequences of these shifts. WORKSHEET Instructions. Unit 2/ Microeconomics ACTIVITY 19 ANSWER KEY ' Shifts in Supply and Demand Part A. The market supply curve shows. Similar to demand, a change in. Based on Scenario 2, the demand curve for soft drinks. Be sure to label the original supply curve. notebook 5 December 11, 2014 Dec 172:10 PM A. The differing answers to these questions formed the basis of Confucianism, Legalism, and Daoism. living standards for thousands of years to the modern era of economic growth. Worksheets Form ES-401-6 Examination Answer Key B. pdf from MATH 4080 at North Miami Senior High School. Adaptation: Genetic changes in a species in response to evolutionary and environmental pressures. In Part B, students analyze additional charts and choose whether or not the price and quantity of given commodities will rise, fall, or stay the same. Shift Register Circuit. Problem Set #1 ANSWER KEY Economics of International Trade 1. If there is time, let groups who calculated a lesser number of bushels calculate the costs, and see if there is any difference in which city gives the best overall price. Reporting back to the larger group can be facilitated by tossing a soft ball to a random pair and asking them to share part of their answer. Review answers using Activity 2 Answer Key. Draw a new SRAS or AD curve that represents the change based on the situation described below. Unit 2: Microeconomics - LESSON 3 • ACTIVITY 15 Shifts in Supply and Demand Part A Fill in the blanks with the letter of the graph that illustrates each situation. One way to lessen the stress and accelerate the learning is with our third grade worksheets. Most reading/language arts curriculums cover both antonyms and synonyms. The teaching assistant notes common mistakes made by students and provides problem solving techniques for approaching similar questions on the problem set and exams. Modification: Modification is realized when technology notably overhauls an analog or digital process. Answer the following questions: Steps to determining a demand curve: 1) What is the relationship between price and the quantity demanded? (If price is set high then what is the effect on the quantity demanded) _____. Why is supply upward sloping? 7. 5 Macroeconomics LESSON 3 ACTIVITY 46 Answer Key UNIT 2. Equilibrium Before - P1, Q1 2. Show the shift in either supply or demand by drawing either D2 or S2. Supply and Demand Infographic Supplemental Activity. 38 – 3P = P - 2 40 = 4P P = 10 => Q D = 8 and Q S = 8 $10 8 Q/t. By convention, supply and demand graphs present price on the Y-axis and quantity on the X-axes. 1 The Central Problem of Economics No. Have students work in pairs to create their own original semantic gradient. ECONOMICS FOR THE VIRTUAL ENTERPRISE "The business of America is business Economics for the virtual enterprise worksheet 6d answer key. The equilibrium point shifts from E on the old supply curve (S) to E1 on the new supply curve (S1921)—at a higher price. An inferior good is one for which demand will fall as incomes rise. An increase in costs will shift the supply curve to the left, but will not change the elasticity. tariffs of $3 per pair, shipping fees of $2. What is supply? Supply is the different quantities of a good that sellers are willing and able to sell (produce) at different prices. Draw two graphs side by side for the industry. Ch 6 Demand, Supply and Prices. Mitosis vs meiosis worksheet answers. Use the table to answer exercises 4 and 5. Define Demand and the Law of Demand. Use your textbook to supply the details that support or explain each main idea. com Print Microeconomic Shifts in Supply and Demand Curves Worksheet. Have students work in pairs to create their own original semantic gradient. Worksheet: LeChatelier's Principle 16. The equilibrium constant for the following reaction is 600(C is 4. A change in demand will cause the demand curve to shift either to the right or left. If I needed to describe the distance between two cities, I could provide an answer consisting of a single number in miles, kilometers, or some other unit of linear measurement. This means that when price increases the quantity demanded decreases and when price decreases the quantity demanded increases. Here we are dealing with a simultaneous increase in demand and an increase in supply. 17 "Changes in Demand and Supply". Chapter-wise Short Questions & Answers in Basic Electronics You will find lots of questions and answers in each chapter. Be sure to label your graph clearly and indicate which curve shifts and the old and new equilibria. Note – Answers for the definition questions can be taken from the lessons directly EP1 2. •Based on that definition, which of the following do you have a. • As price increases, the quantity producers make increases •. Understand the difference between the supply schedule and the. Arithmetic. device used to give supply to a computer; Point at which data may leave or enter the computer; point where wires are interconnected; an input/output device; Answer: 2. i) Construct and Label a PPC for this society. Displaying top 8 worksheets found for - Determinants Of Demand. Activity 6 reinforces the factors that cause a supply curve to shift, the direction of the shift and whether the shift represents â€¦. â€ŽCollege Essay Writing Help On The AppÂ Retailer. Step 1 - E L A S T I C or INELASTIC? Price Elasticity of Demand is a measure of how responsive demand is to a change in price. Give one example where a functional property of a clay "species" is determined by its crystalline structure. Questions Microeconomics (with answers) 1a Markets, demand and supply 01 Price and quantity 1 Price Demand Supply 0 100 0 1 80 30 2 60 60 3 40 90 4 20 120 5 0 150 Draw demand and supply using a graph. doc Author: Noelle Created Date: 2/24/2013 9:53:55 PM. Aggregate demand and supply. 4 Explain that prices change as a result of changes in supply* and demand* for specific products. Under what conditions would an economy have a horizontal SRAS curve? When there are a lot of unemployed resources or a constant price level as in a recession or depression 2. We have 24 template about Economics Chapter 4 Demand Worksheet Answers including template, printable, photos, wallpapers, and more. Demand And Supply. A change in demand will cause the demand curve to shift either to the right or left. Go To -> Worksheet - Answer Key - Solutions Manual What is Le Châtelier's Principle? Le Châtelier's Principle states that if a change in conditions is imposed on a system at equilibrium, and that change pushes the system out of equilibrium, the reaction will shift to the direction that reduces the effects of that change. The argument (the 3x inside the cosine) is growing three times as fast as usual, because of the 3 multiplied on the variable, so the period is one-third as long. (The supply curve shifts down the demand curve so price and quantity follow the law of demand. Chapter 6 Demand, Supply, and Prices. ECONOMICS FOR THE VIRTUAL ENTERPRISE "The business of America is business. Draw two graphs side by side for the industry. 3) On a different piece of paper, draw a decrease in demand graph (shifting the demand graph to the left). Fill in the prices on the y-axis labeled Price, and the quantity supplied on the x-axis labeled Quantity Supplied. The human back is designed for the way God designed us to walk. What is the Law of Supply? There is a DIRECT (or positive) relationship between price and quantity supplied. Truthfully, we have been realized that 18 Shifts In Demand Worksheet Answers is being just about the most popular subject relating to document example at this moment. Basic Principles A move as basic as getting in and out of a chair can be difficult for an individual with a disability, depending on his/her age, flexibility, and strength. Learn vocabulary, terms, and more with flashcards, games, and other study tools. '~Combining Supply and Demand Scenario: The following shows a demand and supply schedule listing CDsdemanded and supplied (in the millions) per week at each price. But the Neolithic Revolution only spreads to areas which are suitable for farming. Below are 6 different graphs, labeled Graph A through Graph F, of the AD-AS model. From these concepts, economists derive other important macroeconomic topics, such as taxation, international trade, and exchange rates. If workers are using hazardous products, employee facilities should provide special precautions as needed such as showers, washing facilities and change rooms. Such a shift indicates. Answer Key for Demand and Supply Activity Worksheet On each demand/supply graph provided, shift the demand or supply curve to indicate the influence of these statements on the market for oil. In each case, decide if the information will cause a change in the current market sup-ply for U. An increase in costs will shift the supply curve to the left, but will not change the elasticity. The market supply curve shows. Demand and LR Aggregate Supply Price Level Quantity of Output As the economy becomes better able to produce goods and services over time, primarily because of technological progress, the long-run aggregate-supply curve shifts to the right. Subject: Image Created Date: 1/31/2013 6:33:53 PM. Depending on time constraints, students can be asked to orally describe shifts in supply and/or demand and the resultant outcomes, or they may be asked to come to the board and replicate their graph as well. So drawing it and manipulating it isn’t too difficult if you remember a few key things. A Caesar cipher shifts the alphabet and is therefore also called a shift cipher. doc Author: Noelle Created Date: 2/24/2013 9:53:55 PM. Aggregate Supply differentiates between short run and long-run and has two different curves. Building a factory with windows that provided lots of natural. The price of pizza increases. In chapter 9 the level of economic activity was explained by changes in key expenditures - consumption, investment, government expenditure and net exports. Both Supply & Demand increase & curves shift out to right. Assessment tests aren't graded--they're more like a personality test such as Myers-Briggs. Determinants Of Demand. The wage increase for bus drivers increases the cost of production, and the supply curve will shift up and to the left (a decrease in supply). Supply and Demand Worksheet NAME: _____ 1. The supply curve for soft drinks would shift to the left as producers stored part of their current production in hope of selling it for a higher price in the future. Scoring Guidelines: 13 points (3+1+3+2+1+3) (a) 3 points: 1 - AD/AS graph with full-employment output shown 1 - showing below full-employment equilibrium 1 - current price level and output. Students must then identify the reason for the shif. If a price change leads to a considerably bigger change in quantity demanded, we would consider the good to be responsive to a price change—hence. CliffsNotes study guides are written by real teachers and professors, so no matter what you're studying, CliffsNotes can ease your homework headaches and help you score high on exams. Below are 6 different graphs, labeled Graph A through Graph F, of the AD-AS model. Unit 2/Microeconomics ACTIVITY 19 ANSWER KEY Shifts in Supply and Demand Part A. Note - Answers for the definition questions can be taken from the lessons directly EP1 2. Demand and Supply Practice Problems - Key Question 1 Assume that each of the markets below is initially in equilibrium. Answer Key UNIT cates that at each of the possible prices shown, suppliers are now willing to offer a (smaller / larger) quantity; and at each of the possible quantities shown, suppliers are willing to accept a (lower / higher) minimum price. (See Key Questions 5, 7, 8): Leftward shift in curve illustrates cost‑push inflation (see Figure 11-11). Be sure to use the line, arrow, and textbox functions to properly label your graph shifts. Worksheet 5—S&D Practice. Quiz & Worksheet Goals. Peterson's Tech Certifications, Digital Web Design, and Intro Matching key. Sierra Vista High School provides a 21st century education that emphasizes critical thinking, communication, and respect for diversity, in a safe and positive environment, supported by collaborative community involvement, in order to create successful, college-prepared and career ready citizens. Find Demand Curve lesson plans and worksheets. You can be creative as long as it relates to a determinant of demand. Example 1: You are given market data that says when the price of pizza is $4, the quantity demanded of pizza is 60 slices and the quantity demanded of cheese bread is 100 pieces. arie char $12 plus 6. In each case, decide if the information will cause a change in the current market sup-ply for U. excise tax—A tax on the sale or use of specific products or transactions. Unemployment is at an all-time high in Rhode Island. 1 below shows the demand for Greebes and the supply of Greebes. December B. Using the graphs above, what is the quantity demanded if the price is $10? _____ 4. The worksheets are printable and the questions on the math worksheets change each time you visit. As income increases, demand goes down. List and explain the basic causes of shifts in Aggregate Demand and Aggregate Supply 3. Quiz Price_Elasticity_Demand. They should also work together on an answer key.