Factors that can increase or decrease the supply of a good or service


Q20 What impact would the following have on the supply of drinks at a coffee shop. Place a tick ✔ in the correct box


Increased supply of drinks


The price of takeaway coffee falls The cost of coffee beans increases VAT on hot drinks is reduced Staff shortages reduce opening hours


Q21 What impact would the following have on the supply of O’Neills GAA Jerseys. Place a tick ✔ in the correct box


Increased supply O’Neills Jerseys


The government reduces VAT on sports clothing O’Neills installs new automated printing machines


The cost of fabric and printing ink increases The selling price of jerseys rises


Q22 (i) Place a ✔ in the correct box (true or false) for each statement about the supply of Penneys (Primark) Hoodies.


Statement


If the cost of cotton used to make hoodies decreases, the supply of hoodies is likely to decrease. If Penneys installs faster sewing machines, the supply of hoodies is likely to increase. If factory workers go on strike, the supply of hoodies is likely to increase.


Q22 (ii) Place a ✔ in the correct box (true or false) for each statement about the supply of Protein Bars.


Statement


If the cost of whey protein used to make protein bars increases, the supply of protein bars is likely to increase. If a protein bar manufacturer invests in new automated production machinery, the supply of protein bars is likely to increase. If there is a shortage of cocoa used to coat protein bars, the supply of protein bars is likely to decrease. If the government reduces VAT on health food products, the supply of protein bars is likely to decrease.


332 2 TRUE FALSE TRUE FALSE


Decreased supply O’Neills Jerseys


Decreased supply of drinks


STRAND 3


CHAPTER 29: Demand, supply & market equilibrium


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