Topic:Supply and Demand

The surge of COVID-19 has caused some significant effects on the supply and demand for products. Explain how the lack of food in stores that has been impacted by supply and demand.

• Explain if COVID has affected the supply curve, the demand curve, or both.
• Explain the type of impact to supply and demand (i.e., does this cause a movement along the curve, or a shift in the curve and what is this called).
• Explain the overall impact to equilibrium quantity and equilibrium supply when supply and demand are impacted.
• How has the impact on supply and demand affected you personally?