Offer and demand
Instructions
Review in the study material of this module what is related to the concepts of supply, demand, equilibrium, changes in demand, changes in supply and their determinants. Then, analyze each situation separately to determine the relationship between what is presented in theparticular situationand these concepts studied.
1.Read carefullyeach of the following economic situations and work them separately:
to. In your country, a health problem associated with a coronavirus has been unleashed. As a result of the situation, the number of consumers wanting to purchase hand sanitizer has increased in that season.
b. Following a recent atmospheric phenomenon, a large amount of the fruit crop was destroyed simultaneously with the arrival of the high season of gastronomic events.
c. The costs associated with the consumption of electricity in the production process have been reduced considerably, together with the entry into the market of 10 new companies dedicated to the production of food.
2. For each situation, prepare, a graph where you represent the intersection of the demand and supply curves to establish the equilibrium point, theprice,and the quantity of the initial equilibrium.
3. Analyze each situation and identify the curves you must move to find the equilibrium point, the price, and the quantity of the final equilibrium when comparing it with the initial equilibrium.
4. After making and analyzing the graphs, you should evaluate each situation in terms of:
to. The effect on demand (increases or decreases)
b. The effect on supply (increases or decreases)
c. The effect on the equilibrium price and quantity (increases or decreases). Homework should be done according to the instructions and sample charts provided by the teacher.these are the attached photos
In the work on task 2.2, I recommend that you rst listen careilly to the end of the lecture when I explain the task in detail. In addition, I recommend that for each of the three situations presented in the task, I recommend that you draw the graphs and compare the different movements. The data to make the graphs must be designed by you following the principle established between price and quantity, that is, D on the supply curve there is a direct relationship between price and quantity, if the price rises the quantity supplied increases and if the price falls, the quantity supplied falls; D while on the demand curve there is an inverse relationship between price and quantity, if the price rises, the quantity demanded decreases and if the price falls, quantity demands increases. D But you can use as a reference the data published in the document that I include here, where an Excel le was included. But I am not indicating that this graph is the same one that you have to use, it is an example that you should practice observing carefully how the data behaves in the table. Observe what happens to the quantities according to the different price levels, the quantity is greater or less, invested or decreased, this is vital for you to create your data. B One point that you must evaluate is the relationship of demand and supply in each situation presented with their movements. That is, how the market has been affected, if the movement of demand was to the left or to the right, and similarly the behavior of supply was to the left or to the right, using the details of the course for each case in special. Specically, you must know and understand each of the determinants of demand and supply separately, which are explained in the virtual step-by-step conference (which must be listened to from beginning to end) and in the assigned chapter. with details and examples. D For each situation you have to present a demand and supply curve on the same graph and incorporate another demand or supply curve or curves, creating the data you need, indicating who moved to the right or le as the one presented in the example I sent you. Therefore, you must have its graph and analysis for each individual case, in total there must be three graphs with three or four curves, as applicable, corresponding to the original demand and supply graphs and the new demand and f or supply curves moving the one that corresponds to the right or the left as applicable, success. (I include the Excel le here) Cheers I recommend that you review unit two and specically the issue of the determinants of demand and of the offer. In the same way that you listen to the lecture and review the chapters of the book, all this is related to the movements of each of the curves. In Excel you must select insert, charts, scatter with straight lines and markers. At work, you must represent each situation by building a generic graph and present analysis of the markets, comparing the different movements. That is, how the market has been aected, if the movement of demand went to the left or to the right depending on whether there is an increase or a decrease, and similarly the behavior of the offer, using the details of the course. Example of increasing consumers, it is an increase in the population which increases the demand therefore there is a shift of the entire demand curve to the right. Then you have to indicate what happens to the point of equilibrium, price and quantity in equilibrium, success. For an example of a graph see the document that I include. Example of a correct graph: Precio Oferta Demanda 0.5 13 2 3 11 3.5 9 5 7 7 5.5 5 8 11 3 9.5 13 1 Chart Title 10 12 14 -+Demands Demanda Oferta 0.5 2 3 3.5 5 7 5.5 9 8 11 9.5 13 Desplazamiento de la Demanda a la Derecha 10 Precio Demanda Demanda Nueva N Oferta 10 15 Cantidades
