Economic Principle: Demand - The factors that can shift demand & the impact of an increase or decrease in demand on equilibrium price (Pe) and equilibrium quantity (Qe). OR Supply - The factors that can shift supply & the impact of an increase or decrease in supply on equilibrium price (Pe) and equilibrium quantity (Qe). Section 1 1-1.5 pages in length Explain as completely as you can what an economist means by demand (supply) and discuss (this implies that you are able to discuss why the factor causes the shift and explain the direction of the shift ...for each factor (this can be done in one sentence for each factor) ALL the factors that can shift a demand (supply) curve. How does a change in demand (supply) differ from a change in quantity demanded (quantity supplied)? Explain what happens to Pe and Qe when demand (supply) increases and when demand (supply) falls. You are either focussing on Demand or supply do NOT do both.. If you choose demand I should NOT see supply until the graph if You choose supply I should NOT see demand until the graph NO EXAMPLES in this section Section 2 1-1.5 pages in length Select an article FIRST PUBLISHED THIS Term that represents a situation where there is/will be a shift in demand (supply) for some product or service. You MUST ATTACH A COPY OF YOUR ARTICLE or URL. Without it, your paper cannot be graded. Briefly (no more than 1/3 of the page) explain the situation. Then spend most of your time relating the article's events to at least 1 and more if in the paper of the determinants of demand (supply) you explained on page 1. Be very explicit in identifying the determinant responsible for the curve shift and in explaining why the curve will move as you predict. Do you see demand (supply) rising or falling? As an economist, what impact do you predict this change will have on Pe and Qe? Put this together in a logical progression and be sure to use paragraphs! Below, as an example, you'll see the headline of an article about the Christmas tree market. You'll be writing about the article you've selected and will include the title and source of your article at the top of page 1. Page 3 Graph. Construct a properly labeled graph of supply AND demand for the market discussed in your article. Label the initial demand (supply) curve D1 (S1) and the initial equilibrium price and equilibrium quantity Pe1 and Qe1, respectively. Now, staying on the same graph, if your topic is demand draw in the new demand curve and label it D2. Leave the supply curve alone. Find and label the new equilibrium values Pe2 and Qe2. If you've chosen to write about supply, draw in the new supply curve (label it S2) to show the increase or decrease in supply. In this case, let the demand curve stay put. Label the new equilibrium values Pe2 and Qe2. Title must include: Product; curve shifting; direction of shift; shift factor(s) causing the shift in a single complete phrase (not in pieces) You do NOT need numbers form the article start at P0 and Q0 and end at P1 and Q1; relative changes in Pe and Qe will suffice.