M1

Question 1

ECOST - SUPPLY Increases

Answer 1

Expected cost decrease
Cost of production decrease
Other items demand decreases
Subsidies increase
Technology improvements

Question 1

SPINE - DEMAND Increases

Answer 1

Substitutes price increases
Popularity increases
income increases
Number of buyers increases
Expected price increases

Question 2

Elasticity

Answer 2

How sensitive demand for or supply of a product is to a change in price.