The diagram shows the market for cherries in Chile.
What would cause a change in the market equilibrium from to ?
a newspaper article stating cherries are good for your health
a poor harvest for cherries due to bad weather
an increase in the imports of cherries from Israel
the government reducing the sales tax on cherries
The price of petrol increases in a country with a market economic system.
What is a consequence of this?
More cars are bought.
The costs of road transport increase.
The quantity of petrol supplied falls.
There is a shortage of petrol.
Good weather results in an increase in the demand for and supply of peaches.
How will this affect the price and quantity traded in the market for peaches?
price of
peaches
quantity of
peaches traded
fall
fall
rise
rise
rise
uncertain
uncertain
rise