Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help! This is the pre-work document prior to building the PowerPoint. The Product is Smartphones. Slide 1: What product are you analyzing? Slide 2:

Please help!

This is the pre-work document prior to building the PowerPoint.

The Product is Smartphones.

Slide 1: What product are you analyzing?

Slide 2: Who are the buyers of your product?

Slides 3 - 7: What are 5 things other than the price of this item changing that will change how many of this item people want to buy? Make sure to include your example which will be the title of the slide and the category of shift which will be your first bullet point.

Demand Shifter 1 (Increases Demand):

Demand Shifter 2 (Increases Demand):

Demand Shifter 3 (Increases Demand):

Draw a graph with an increase in Demand. Make sure you can identify what the graph looks like and can read it.

What happens to the price of the item when Demand increases?

What happens to the quantity of the item when Demand increases?

Demand Shifter 4 (Decreases Demand):

Demand Shifter 5 (Decreases Demand):

Draw a graph with a decrease in Demand. Make sure you can identify what the graph looks like and can read it.

What happens to the price of the item when Demand decreases?

What happens to the quantity of the item when Demand decreases?

Slides 8 - 9: What are 2 things other than the price of this item changing that will change how many of this item people want to sell? Make sure to include your example which will be the title of the slide and the category of shift which will be your first bullet point.

Supply Shifter 1 (Increases Supply):

Draw a graph with an increase in Supply. Make sure you can identify what the graph looks like and can read it.

What happens to the price of the item when Supply increases?

What happens to the quantity of the item when Supply increases?

Supply Shifter 2 (Decreases Supply):

Draw a graph with a decrease in Supply. Make sure you can identify what the graph looks like and can read it.

What happens to the price of the item when Supply decreases?

What happens to the quantity of the item when Supply decreases?

Here is an outline of what your presentation should include:

  • Slide 1: Analyzing Supply and Demand Shifts in the Market for ________. You should also include your name.
  • Slide 2: Include an image that represents the product or service. Be sure to provide attribution for the photo. You should also include the name of your product and a short description of its buyers and sellers.
  • Slides 3 - 9: These slides should show the supply and demand shifts you have identified with one shift per slide. Each of these should include:
    • the factor that shifts supply or demand in the title of the slide;
    • the supply or demand shifter (EX. cost of production, income, taxes)
    • the change in supply or demand;
    • the impact on equilibrium price and impact on equilibrium quantity; and
    • a graph indicating the shift and its result.
  • Slide 10: Include a Conclusion stating the items that affected Supply and Demand broken down by direction.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microeconomics

Authors: Paul Krugman, Robin Wells

4th Edition

1464143870, 9781464143878

More Books

Students also viewed these Economics questions

Question

Explain the causes of indiscipline.

Answered: 1 week ago

Question

Explain the factors influencing wage and salary administration.

Answered: 1 week ago

Question

Pollution

Answered: 1 week ago

Question

The fear of making a fool of oneself

Answered: 1 week ago