Question
Use at least two news articles that discuss demand, supply, and equilibrium price of two substitute products, like beef and chicken; butter and margarine. It
Use at least two news articles that discuss demand, supply, and equilibrium price of two
substitute products, like beef and chicken; butter and margarine. It can be two articles that
discuss both products, or one article about one product and another article about another product.
At least one news article should be dated within the previous two months. use specific economic vocabulary within your discussion, i.e.
Demand for one product:
Quantity demanded,
Determinants of demand,
Shifts in demand curve, etc.
Demand for another product:
Quantity demanded,
Determinants of demand,
Shifts in demand curve, etc.
Supply for one product
Quantity supplied,
Determinants of supply,
Shifts in supply curve, etc.
Supply for one product
Quantity supplied,
Determinants of supply,
Shifts in supply curve, etc.
Changes in equilibrium quantity and equilibrium price for one product
Changes in equilibrium quantity and equilibrium price for another product
The articles you choose may not use these exact terms; therefore, it is incumbent to convert the article language into economic language as is appropriate. Use a graph that shows the demand curve, the supply curve, shifts in demand and/or supply curve, changes in equilibrium quantity and equilibrium price, price ceilings and/or price floors.
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