please read the instructions for this assignment and make sure to follow it!

write 5 paragraphs about two pages

The key to this chapter and all of economics is identifying theDETERMINANTSthatcausedemand or supply curves toshift.The determinants are listed on folder and in the PowerPoint. You must identify thespecificdeterminants that are causing the shifts in the demand or supply as listed on folder and in the PowerPoint. You should be thinking about how the real-world events can be explained using the list ofdeterminantsintroduced in chapter 3. How can the events causing the demand curve to shift be categorized using determinants? How can the events causing the supply curve to shift be categorized using determinants? This paper must be writtenusing economic terminology,have at minimum 5 paragraphs, and relate the articles to the textbook concepts including theCOVID chapter(think the toilet paper shortages) and Appendix A regarding food prices:

• Explainhow thedeterminant(s), aslisted,are affecting the demand and/or supply of gas (both natural gas and gasoline).
• How do the shifts in demand and/or supply affect the prices and quantities in the article?
• Relatethis article to the current events in relation to gas prices and the current events surrounding the oil market.Some of the determinants, as listed, may be geo-political, but you must explain in the context of the list of determinants.
• Explainif governmental price controls are economically efficient. In your opinion, should the government impose price controls? Defend your oppositioneconomically.
• Explainyour conclusion on why this information from the article relates to the chapter and what you've learned from the article. Why is it important both in general and in the context of our course?

Your writing prompt should be based on the articles, "Memorial Day Weekend Gas Prices Are at a Record High. Here's Why,""Memorial Day Weekend Gas Prices are at Record High," "USDA Says All Food Prices Will Increase in 2022Especially for These 5 Foods"and "Hurricane Price Gouging is Despicable, Right?" This should be in the context of having reviewed topics 1-4 and theCOVIDchapter already.

617122, 6:49 PM USDA Says All Food Prices Will Increase in 2022Especially for These 5 Foods :1 USDA Says All Food Prices Will Increase in 2022Especially for These 5 Foods Get ready to pay higher prices for chicken, eggs, and more. By Samantha Leffler April 12, 2022 Get ready to spend more money at the grocery store. Per the newly _updated March 2022 rem Mimi from the US. Department of Agriculture, I'all food prices" are expected to increase in the coming months. More specifically, the report states that the cost of eating o_ut will see an increase between 5.5 and 6.5 percent, while gmyprici are slated to jump between 3 and 4 percent in the remainder of 2022, adding to recent price increases that most consumers have already experienced. As the report points out, these increases, which will impact everything from Lats, poultry, eggs, and dairy products to cereals and bakery items, are the highest they've been in decades. Not surprisingly, and for various reasons, certain foods will see larger price increases than others. Topping the list with the largest increase compared to 2021 is beef and veal. While that category is now slated to see a 3.4 percent bump in 2022, beef and veal prices have risen a whopping 16.2 percent since last year. Another category that's destined to see a big jump is poultry, which the USDA predicts will see a 6 to 7 percent increase in price this year. Similarly, eggs will see a 2.5 to 3.5 percent bump. "The impacts of the conflict in Ukraine and the recent increases in interest rates by the Federal Reserve are expected to put upward and downward pressures on food prices, respectively," the report states. Il'l'l__ _:l..._l.:___ ...:II I__ _I___I.. __._:l.___J 1.- ______ IL- __I. ._.___a._ -1 LL___ __.__....___l. _..__l._ - 01 vi Forbes Memoria....htm| A AARP 4 Reason....htm| A NYT Hurricane....htm| A 1'1": Dairy While you may see a plethora of plant-based milks, yogurts, and other dairy products on your trips to the grocery store, the USDA stated, "Rapid increases in the consumption of dairy products have driven increases in retail prices in recent months." Following a 1.6 percent increase in the prices for retail dairy products in February 2022, the USDA now predicts that dairy product prices will increase between a total of 4 and 5 percent in 2022. Eggs Though eggs won't see as big a price hike as poultry or dairy, we'd be remiss not to include Ms mealtime stain on this list, especially since consumers can still expect egg prices to rise between 2.5 and 3.5 percent. Similar to poultry, the reason for the increase is avian influenza. Other Food Price Increases to Look Out For If you have a sweet tooth, get ready to spend more money on your trips to the grocery store for the remainder of 2022. Sugar and sweets prices are predicted to increase between 3 and 4 percent, and the USDA notes that consumers will see an identical price jump for cereals and bakery products. The n n- I h Ii v r ge market, which has been flourishing in recent months, is also poised to take a hit with prices likely rising between 3.5 and 4.5 percent. Interestingly enough, the USDA predicts that fresh vegwprici will now see less of a price increase than previously forecast. The prices of items such as fresh broccoli, string beans, and M [33mm will likely see an increase between 1 and 2 percentan adjustment downward from 1.5 to 2.5 percent. v1. v1. Forbes Memoria....html A AARP4Reason....html A NYT Hurricane....htm| A 2. Weather extremes Hurricane season in the US. kicks off June 1 and is expected to be a busy one. Although that is not exerting pressure on gas prices today, it takes only one storm on the Gulf Coast for those prices to be off the charts tomorrow, Sinclair says. According to Colorado State University's Seasonal Hurricane Forecasting Report, 19 storms are expected this year, with nine of them hurricanes. That compares with 14.4 storms and 7.2 hurricanes, on average, from 1991 through 2020. The university expects four major hurricanes this season, instead of the average 3.2. \"We anticipate an above- average probability for major hurricanes making landfall along the continental United States coastline and in the Caribbean," the university wrote in its forecasting report. 3. Switch to summer blends As the weather gets warmer refiners switch to summer blends of gasoline, which have lower vapor pressure, helping to prevent the evaporation of gas in the summer sun. This blend also costs more, which puts further upward pressure on gasoline prices. \"They were supposed to make the switch to more expensive blends of summer gasoline in April, but we've come to find out they are still using winter gasoline until June 1," Sinclair says. Once refiners make the switch, gas prices could increase even more, he warns. Sinclair notes that the use of the summer blend was suspended after Hurricanes Katrina and Rita in 2005 but that similar discussions are not occurring today. \"They are really limited in what they can do. The price of crude oil is a globally priced commodity." 4. Summer travel demand Despite rising gas prices and ygm, people across the country still plan to take vacations in the coming season. Since upward of 80 percent to 90 percent of summer trif are made via motor vehicles, according to AAA, demand for gas is expected to increase, driving prices up. - what will make gas prices come down, short of some intervention by the government? According to Sinclair, the picture looks bleak for the next few months. 'The end of summer-driving season is the only thing I see in the future that could make a difference. The situation with Russia looks like it's going to be ongoing, and that's a major hit." . @p costs down, Sinclair offers these two tips: - Maintain proper tire pressure. Thirty percent of the engine's energy is used to overcome rolling resistance of the tires, Sinclair explains. Every pound per square inch of underinflated tire uses nearly 1 percent of fuel economy per tire. - Slow down. Speeding is not only dangerous but also wastes gas. According to Sinclair, every 5 miles per hour over 50 adds about 25 cents per gallon. \"Your engine works harder to overcome increased wind resistance at higher speeds." Donna Fuscaldo is a contributing writer and editor focusing on personal finance and health. She has spent over two decades writing and covering news for several national outlets, including The Wall Street Journal, Forbes, Investopedia and HerMoney. mes://www.aarp.org/money/budgetingsaving/info2022/recordhighgaspricesstili~rising.html 5 USDA Says A|| F....pdf A Hurricane Price....pdf A 1: Forbes Memoria....htm| A : AARP 4 Reason....htm| A 1: NYT Hurricane....htm| A Show All X