Reference no: EM132247868 , Length: word count:250
Assignment -
Find one or two news articles from the Internet that illustrate a shift in supply and/or demand. The article(s) need to illustrate at least two of the four graphs. This may require two articles. The article(s) must be recent (within the last six months), and MUST NOT be from an encyclopedia or reference website that discusses demand and supply.
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. RECOMMENDATION: READ THE SAMPLE PROJECT: Under the Getting Started link.
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 (Do not quote the article, but explain it as if you were telling someone about it.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.) If you use more than one article, then citations are required.
Explain which graph in our collection - A, B, C, or D - illustrates the shift that you identify by describing the change in equilibrium quantity. Remember to illustrate the shifts shown in at least two of the four graphs. Explain in detail why did you chose the graph.
You will also need to include any other economic term(s) that have been covered during the course that is relevant to the article(s) that you chose. Some of these terms may be for example, the cost of opportunity, scarcity, incentives, comparative advantage, price controls, externalities, public goods, common resources, monopolies, oligopolies, among many others that you have learned during this course. For this assignment it is not enough to write about supply and demand. You must include other economic terms and relate them to the articles.
Some articles may describe a situation where both curves shift. This is not common but it is possible.
Do use paragraphs in your post. And do remain focused on what is in the article.
Important: This is a Microeconomic course. Do not choose an article discussing Macroeconomic issues: Inflation, unemployment, trade deficit, government budget deficit, etc.