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Background: After the pandemic started, many consumers stopped eating out. Instead they bought an abundance of groceries (much more than they would typically buy). It became challenging for workers to keep the stores stocked. Russia’s invasion on Ukraine has affected the ability to keep goods stocked due to the increase of demand. These events have led to an increase of demand for food. This has caused the prices to rise due to the extremely high demand. For example, four years ago the average price of eggs was $1.55. Presently, the average price of eggs is $2.72.The rapid increase in demand that started at the beginning of the pandemic is still a problem today as it has driven prices significantly higher.

Shifters and Graph: There are two demand shifters that best describe this situation. The first is substitution. Eating out was not an option anymore, so people had to substitute this change with buying an abundance of goods from the grocery store. The other demand shifter is the number of buyers. There were people that were buying many more goods than normal, people coming more frequently, or people buying a ton of groceries that typically eat out. This also causes a rapid increase in the quantity demanded. Both of these demand shifts increased the quantity demanded, and thus the price. That is why the graph is seen shifting to the right.

https://apple.news/APp0v9QFoQmOc3Dj-B5nkFw

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Currently many people buy and use virtual reality headsets from multiple different companies. Apple just released a new design of a VR headset that uses AI, and allows the users to create any scenario they want. They can input setting, duration, unique features, and any interactions. All the AI needs are a few brief sentences to create the unique scenery. This prompts all VR uses to buy the new Apple VR headset. The best part is that the prices are about equal to all of the other VR headsets out there. The quantity of demand increases due a huge increase in customer preferences in the Apple VR headset. So, Apple sees a huge boost in demand and profit.

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Background: Recently, climate change has greatly affected the growth of cocoa beans. These beans grow close to the equator in regions such as South American and West Africa where there is plenty of rain and warm weather. With climate change, the main regions where cocoa beans grow have been struggling to grow cocoa. This article highlights how scientists are finding alternative ways to grow cocoa beans. Also, scientists are finding ways to make cocoa trees less susceptible to climate change.

A reason the supply curve would shift right because of the shifter of number of sellers. As a result of the scientists finding new ways to grow cocoa, there would be more cocoa beans, and more sold. The impact on price would be it would decrease, and quantity would increase. People would be affected by now being able to purchase coffee beans for less money, the people who are primarily affected are coffee shop owners, and regular coffee buyers.

https://apnews.com/article/chocolate-cacao-lab-alternatives-climate-change-73904f71a086044fa55b0ea1a32cf84d?utm_source=substack&utm_medium=email

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The cotton gin was an innovation that had dramatic effects on the clothing market. This machine separated cotton fibers from their seeds automatically to increase productivity.

This caused the supply of cotton to increase dramatically, which hence caused the supply of clothing to increase. Therefore, there would be a shift right on the supply curve. The shifter would be technology and the cotton gin was a technological innovation. The shift would cause price to lower, quantity to increase, and for society it decreased the need for people to remove seeds from cotton themselves.

https://science.howstuffworks.com/innovation/inventions/cotton-gin.htm#:~:text=The%20invention%20of%20the%20cotton,growth%20in%20the%20textile%20industry.