Review
5. Classify the effect of each of the following as (i) a change in the
demand for fish or (ii) a change in the quantity of fish demanded.
Illustrate each diagrammatically.
a. The government of Canada closes the Atlantic cod
fishery.
b. People buy less fish because of a rise in fish prices.
c. The Catholic Church relaxes its ban on eating meat on
Fridays.
d. The price of beef falls and, as a result, consumers buy
more beef and less fish.
e. Fears of mercury poisoning lead locals to shun fish caught
in nearby lakes.
f. It is generally alleged that eating fish is better for one’s
health than eating meat.
6. Are the following two observations inconsistent?
a. Rising demand for housing causes prices of new homes to
soar.
b. Many families refuse to buy homes as prices become
prohibitive for them.
7. Consider households’ demand for chicken. For each of the events
listed below, state and explain the likely effect on the demand for
chicken. How would each event be illustrated in a diagram?