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Review in the study material of this module what is related to the concepts of supply, demand, balance, changes in demand, changes in supply and
Review in the study material of this module what is related to the concepts of supply, demand, balance, changes in demand, changes in supply and its determinants. Then, analyze each situation separately to determine the relationship between what is presented in the particular situation and these concepts studied. 1. Carefully read each of the following economic situations and work on them separately: a. A health problem associated with a coronavirus has broken out in your country. As a result of the situation, the number of consumers wanting to buy hand sanitizer has put pressure on that season. b. After a recent weather phenomenon, much of the fruit harvest was destroyed simultaneously with the arrival of the high season of gastronomic events. C. The costs associated with the consumption of electrical energy in the production process have been reduced with difficulty, together with the entry into the market of 10 new companies dedicated to food production. 1. For each situation, make a graph where you represent the intersection of the supply and demand curves to establish the equilibrium point, the price and the quantity of the initial equilibrium. 2. Analyze each situation and identify the curves you must follow to find the equilibrium point, the price and the quantity of the final equilibrium compared to the initial equilibrium. 3. After making and analyzing the graphs, you must evaluate each situation in terms of: a. 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)
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