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:

Fictive Kin

Refers to individuals who are not biologically or legally related but are considered and treated as family members due to their emotional or significant relational connection.

Kinkeeper

A family member who maintains communication, upholds family traditions, and strengthens the bond among family relatives.

Generativity

The concern for establishing and guiding the next generation, commonly expressed during middle adulthood.

Age Discrimination

Unfair treatment or prejudice against individuals based on their age, particularly prevalent in the workplace but can occur in other contexts.