The Diagram Below Represents the Consumer Side of the Market

question 4

Essay

The diagram below represents the consumer side of the market for skateboards in New York.The current price of skateboards is P_A.Each of the events described below will have some impact on the demand for skateboards.For each event, draw a picture to illustrate the effect of the event.Be sure to explain your pictures using pertinent economic terminology ("movement along" or "shift in"). (a) A drop in the price of skateboards.
(b) A drop in the price of kneepads.
(c) A decline in income.

---

Definitions:

Positive Development

A process of improving individual traits, behaviors, and social interactions to foster well-being and success.

Developmental Scientists

Experts who study the patterns of growth, change, and consistency through the lifespan, focusing on how and why individuals develop over time.

Self-conscious Emotion

Emotions that arise from reflections on oneself, such as guilt, shame, embarrassment, and pride, often influenced by social evaluations.

Attachment Categories

Classification of the patterns of attachment behavior exhibited by children towards their caregivers, as identified in psychological studies.