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Topic: Explain what happens to the equilibrium price and quantity when demand (or supply) increases or when demand (or supply) falls. Do some research online
Topic: Explain what happens to the equilibrium price and quantity when demand (or supply) increases or when demand (or supply) falls.
Do some research online and find a newspaper article that represents a situation where there is/will be a shift in demand (or supply) of a product or service. (restrict yourself to a newspaper article published between 2021 and 2022)
- You MUST ATTACH THE URL and the correct citation of the article (use the example I have below to cite a newspaper article)
- Briefly summarize the article (in 2-3 lines).
- Do an economic analysis of the event by relating the article's events to at least 1 determinant of demand (OR supply) learned in the chapter and state in what direction demand (OR supply) will shift.
- Be very explicit in identifying the determinant responsible for the curve shift and in explaining why the curve will move as you predict.
- As an economist, what impact do you predict this change will have on equilibrium price and quantity?
- Put this together in a logical progression and be sure to use paragraphs.
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