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QUESTION
Provide two examples of Supply Demand Analysisone a change in supply and one a change in demand. Use the 4-step process describe in Chapter 3,...
- Provide two examples of Supply & Demand Analysis—one a change in supply and one a change in demand. Use the 4-step process describe in Chapter 3, Section 3.
- Identify the factors that influence supply and the factors that influence demand.
- Choose one for each side of the market (two sides: supply & demand) and explain how this factor will change in coming months or years.
- Predict how it will "shift" supply (first) and demand (in a separate second analysis).
- Describe and compare the new equilibrium to the initial equilibrium.
- Are consumers better off?
- Are producers better off?
- (For a superior performance introduce real world facts and statistics; another contribution to a superior performance is using the appropriate supply and demand diagrams.)
