1. Bellringer1. Give an example of the law
of demand from your
Spring Break. Something
you bought, didn’t buy or
witnessed
2. For each part of TRIBE,
identify a change to the Miami
hotel market. For example:
Taste: during Spring Break
demand for hotels increases
B/C school is out.
3. White boards
Which part of TRIBE will
change in the following
scenarios to the Tucson
gasoline market?
1. Summer time
2. Used cars get more expensive
3. Sun Tran rates increase by 10%
4. Alaskan oil spill, consumers think gas prices will
increase next month
5. Tesla electric cars get cheaper
6. New freeway connects Eastside with rest of Tucson
4. White boards
Which part of TRIBE will
change in the following
scenarios to the Spam market?
1. US unemployment falls by 1%
2. Price of bacon drops by 5%
3. Restaurant prices increase after US minimum
wage increase
4. TUSD stops selling school lunches, students must
bring lunch from home
5. Median wage increases in Arizona
5. Last Friday’s assignment
• For each sentence explaining why the part of TRIBE is correct
1. New residents move to Arizona (Buyers, D increase)
2. Unemployment rises (Income, D decrease)
3. The price of spaghetti noodles increases (Related Good, D decrease)
4. Americans try to eat healthier and eat more salads (Tastes, D increase)
5. Americans try to eat healthier and eat less pizza (Tastes, D decrease)
6. Price of tomatoes decreases (No change)
7. Average US income rises (Income, D increase)
8. V8 juice company goes out of business (Buyers, D decrease)
9. The price of ground beef decreases (Related Good, D increases)
10. Media reports salmonella outbreak from California tomatoes (Tastes, D
decrease)
11. Consumers predict tomato prices to increase next month (Expectations, D
increase)
12. Salsa becomes #1 US condiment (Tastes, D increase)
13. Price of tortilla chips triples (Related Good, D decrease)
14. Make up your own example and explain demand change