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:

Executive Branch

The part of government responsible for implementing and enforcing laws, typically headed by the president or prime minister and their cabinet.

Impeach

The process by which a public official is charged with misconduct or wrongdoing, potentially leading to their removal from office.

State of Nature

A concept in political philosophy used to describe the hypothetical conditions of human life before the establishment of society or government.

Thomas Hobbes

A 17th-century English philosopher best known for his work in political philosophy, particularly his book "Leviathan," which established the foundation for most of Western political philosophy.