Given the Products Below and the Events That Affect Them

question 21

Essay

Given the products below and the events that affect them, indicate what happens to demand or supply, and the equilibrium price and quantity.Identify the determinant of demand or supply that causes the shift.(a) Blue jeans.The wearing of blue jeans becomes less fashionable among consumers.(b) Computers.Parts for making computers fall in price because of improvements in technology.(c) Lettuce.El Nino produces heavy rains that destroy a significant portion of the lettuce crop.(d) Chicken.Beef prices rise because severe winter weather reduces cattle herds.

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Definitions:

English Courts

The judicial system of England and Wales, comprising various levels of courts, including the Supreme Court, Court of Appeal, and High Court.

Remedies

Legal means of enforcing a right or redressing a wrong, including compensatory damages and injunctions.

Early English Courts

The judicial institutions in England from ancient times until the modern era, developing the foundations of common law.

Items of Value

Items of Value refer to any objects or entities that hold financial, sentimental, or practical worth to an individual or organization.