The situations below include an event, in plain text, and a market, in italic. For each situation, determine whether the demand or supply curves shift to the right or to the left for the market, and sort the situation into the appropriate category.
The price of cereal falls: Milk
The population ages: Home health care
Consumer incomes decrease: Housing
The government pays a subsidy to producers: Ethanol
The price of jet fuel rises: Airplane flights
Categories
Demand increases _____
Demand decreases ______
Supply increases ______
Supply decreases ______