There are 4 steps to analyzing markets Identify the market ,Construct a graph depicting cureent market equilibrium price and quantity Identify the non price determinant of supply or demand affecting the market (some scenarios may have an event affecting both supply and demand and therefore required two graphs) Identify changes to supply or demand Report results on price and quantity at new market equilibrium, refer to the 4 graphs to explain results Use the 4 step approach to analyze the following 7 market scenarios The pandemic forces primary and secondary schools to shift the delivery of education from the classroom to an online format Millions of students require tablet computers to participate in online learning How will this economic event affect the market for tablet computers Cacao, the main ingredient in making chocolate, substantially increases in price How will this event affect the market the market for chocolate candy Perfect weather in Southern California yields a bumper crop of avocados The preference for avocados continues to grow among American consumers How will these 2 events affect the market for avocados The legalization of internet based gaming increases the popularity of online gambling The government raises taxes on businesses supplying online gaming platforms to gamblers How will these 2 events affect the market for internet based gambling COVID 19 lockdowns force individuals to postpone elective surgeries How will this event affect the market for surgical medical supplies Americans forced to quarantine decide to decorate their homes with new furniture Materials used in the construction of furniture increase in price How will these 2 events affect the furniture market The popularity of whitefish, such as cod, continues to increase in the United States Worried about overfishing Canadian and U S officials reduce the cod fishing season for licensed fishing crews from 45 days to 30 days How eill these 2 events ultimately affect the market for cod

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Posted on Jun 21, 2024

There are 4 steps to analyzing markets:

Identify the market,Construct a graph depicting cureent market equilibrium price and quantity.
Identify the non-price determinant of supply or demand affecting the market (some scenarios may have an event affecting both supply and demand and therefore required two graphs)
Identify changes to supply or demand
Report results on price and quantity at new market equilibrium, refer to the 4 graphs to explain results.

Use the 4 step approach to analyze the following 7 market scenarios:

The pandemic forces primary and secondary schools to shift the delivery of education from the classroom to an online format. Millions of students require tablet computers to participate in online learning. How will this economic event affect the market for tablet computers?
Cacao, the main ingredient in making chocolate, substantially increases in price. How will this event affect the market the market for chocolate candy?
Perfect weather in Southern California yields a bumper crop of avocados. The preference for avocados continues to grow among American consumers. How will these 2 events affect the market for avocados?
The legalization of internet-based gaming increases the popularity of online gambling. The government raises taxes on businesses supplying online gaming platforms to gamblers. How will these 2 events affect the market for internet-based gambling?
COVID-19 lockdowns force individuals to postpone elective surgeries. How will this event affect the market for surgical medical supplies?
Americans forced to quarantine decide to decorate their homes with new furniture. Materials used in the construction of furniture increase in price. How will these 2 events affect the furniture market?
The popularity of whitefish, such as cod, continues to increase in the United States. Worried about overfishing. Canadian and U.S. officials reduce the cod fishing season for licensed fishing crews from 45 days to 30 days. How eill these 2 events ultimately affect the market for cod?