The demand for fish fell as some Catholics who had to eat fish before started eating meat on Friday when they were allowed to do so.
This is a simple example of the effect of a change in tastes (вкусы) on the demand. Economists said that lower demand would lead to lower equilibrium price and the quantity of demanded fish.
Studying reports on fish prices and quantities of sold fish in the United States before and after 1966 we can see that this is what happened.
Do you think tastes are as important for demand as prices of other goods in the markets? Supply examples.
28. Закончите данные ниже предложения, выбрав вариант, соответствующий содержанию прочитанного текста.
In 1966 the Pope said that Catholics…
a) could eat fish on Friday, b) could eat meat every day of the week; c) could eat fish every day of the week.
In 1966, when Catholics were allowed to eat meat on Friday…
a) the demand for fish increased', b) the demand for fish decreased, c) the demand for fish remained the same.
The demand is influenced not only by consumer incomes but also by.. a) the price of other goods in the market, b) improvement in technology, c) consumers' tastes.
As the demand for fish fell…
the equilibrium price fell, too;
the equilibrium price rose',
the equilibrium price remained the same.
29. Измените предложения по образцам в соответствии с содержанием текста The Pope and the Price of Fish.
ОБРАЗЕЦ 1: The demand for fish after 1966 was (high) before 1966. The demand for fish after 1966 was not as high as before 1966.
The demand for meat before 1966 was (high) after 1966.
The quantity of sold fish after 1966 was (great) before 1966.
The quantity of sold meat before 1966 was (great) after 1966.
The price for fish before 1966 was (low) after 1966.
ОБРАЗЕЦ 2: The demand for fish before 1966, after 1966 (high). – > The demand for fish before 1966 was higher than the demand for fish after 1966.
The average weekly price for fish after 1966, before 1966 (low).
The average weekly quantity of consumed fish before 1966, after 1966 (big).
The demand for meat before 1966, after 1966 (low).
The quantity of meat consumed on Friday after 1966, before 1966 (big).
The quantity of fish consumed on Friday after 1966, before 1966 (small).
ОБРАЗЕЦ 3: Catholics ate (much) of fish before 1966, after 1966. Catholics ate more of fish before 1966 than after 1966.