Demand for roses increases, the prices of roses increases, and the quantity exchanged increases. Figure 3 Project Visual 3 . Briefly explain or review each of the determinants and how it can influence supply. Use the following examples of changes in supply and illustrate how the supply curve has shifted by displaying the visual noted. For each example, ask students what has happened to price and quantity exchanged.
More producers cause the supply of roses to increase.
The price of roses decreases, and the quantity exchanged increases. The supply of roses decreases, the price of roses increases, and the quantity exchanged decreases. A machine is developed that can cut and gather the roses without harming the bud. The supply of roses increases, the price of roses decreases, the quantity exchange increases. The price of tulips doubles.