directions: use the graphic organizer to take notes as you watch the video. then answer the questions.\n1…

directions: use the graphic organizer to take notes as you watch the video. then answer the questions.\n1. identifying fill in the chart with consumer and producer reactions to changes in price.\n| prices | consumer reactions | producer reactions |\n| when prices go up... | | |\n| when prices go down... | | |\n2. explaining explain how a price represents more than how much it cost to produce an item.\n3. determining central ideas why do producers pay attention to price signals?\n4. identifying cause and effect how has the internet and streaming services changed the way people buy music?\n5. collaborating using the information from the video, write a new question. after writing this question, work with a partner and trade questions. have your partner answer your question while you answer your partner’s question.

directions: use the graphic organizer to take notes as you watch the video. then answer the questions.\n1. identifying fill in the chart with consumer and producer reactions to changes in price.\n| prices | consumer reactions | producer reactions |\n| when prices go up... | | |\n| when prices go down... | | |\n2. explaining explain how a price represents more than how much it cost to produce an item.\n3. determining central ideas why do producers pay attention to price signals?\n4. identifying cause and effect how has the internet and streaming services changed the way people buy music?\n5. collaborating using the information from the video, write a new question. after writing this question, work with a partner and trade questions. have your partner answer your question while you answer your partner’s question.

Answer

Brief Explanations:

  1. When prices go up, consumers usually buy less (decrease in quantity demanded) as it becomes more expensive for them. Producers may increase production to earn more profit. When prices go down, consumers buy more (increase in quantity demanded) due to affordability. Producers may reduce production as profit - margins shrink.
  2. A price represents not only production cost but also factors like consumer demand, competition, brand value, and market conditions. For example, a luxury brand can charge more due to its brand image.
  3. Producers pay attention to price signals because they indicate changes in consumer demand and market conditions. Higher prices may signal high demand, prompting producers to increase output, while lower prices may signal over - supply or low demand, leading to production cuts.
  4. The Internet and streaming services have changed music buying by making it more convenient to access music through streaming instead of purchasing physical copies. It has also led to a shift from album - based purchases to single - song purchases and has increased the global reach of music.
  5. This question requires collaborative work and creating a new question based on the video content, so no single answer can be provided here.

Answer:

    • When prices go up...
      • Consumer reactions: Buy less.
      • Producer reactions: Increase production.
    • When prices go down...
      • Consumer reactions: Buy more.
      • Producer reactions: Decrease production.
  2. A price represents consumer demand, competition, brand value and market conditions in addition to production cost.
  3. Price signals indicate changes in consumer demand and market conditions.
  4. Made music access more convenient, shifted from physical to digital and from album - to single - based purchases, increased global reach.
  5. N/A (Requires collaborative work)