KU Micro Economics Consumers Experience with Rising Food Prices Paper – Description
Applying Supply and Demand: Real-World Examples
For this assignment you will find a news article (not a blog, not Wikipedia, not an opinion article, a news article) that describes a change in supply, demand or both in a real-world market. The learning objective is to understand how supply and demand impacts markets and prices.
Assignment History
Find a news article on the Internet that describes a shift in the supply curve or in the demand curve. The article must be recent (within the last six months), and MUST NOT be from an encyclopedia or reference website that discusses demand and supply. DO NOT use blogs. Use well established business web sites or industry specific web sites.
The best articles are about changes in the price and/or sales of a particular product. You then have the opportunity to demonstrate your understanding of supply and demand shifts as you explain the changes in price and quantity experienced by the product you choose.
Summarize the article. (Do not quote the article, but explain it as if you were telling someone about it. If you do use direct quotes or paraphrases, remember that citations and references are required.)
Construct your own, original supply and demand model. Show the shifts in supply and/or demand and explain the effect on equilibrium price and equilibrium quantity. Be sure to discuss the determinants of demand and/or supply and how they apply to this specific article.
Explain the shift that you identify by describing the change in price and the change in equilibrium quantity (remember the difference between a change in quantity and a change in the position of the curve).
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