Tag: Supply

The demand, supply, and equilibrium price of two substitute products

Posted on | by Kelvin

Select 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.
Refer to week 2 content materials and use specific economic vocabulary within your
discussion, i.e.
• Demand for one product:
o Quantity demanded,
o Determinants of demand,
o Shifts in demand curve, etc.
• Demand for another product:
o Quantity demanded,
o Determinants of demand,
o Shifts in demand curve, etc.
• Supply for one product
o Quantity supplied,
o Determinants of supply,
o Shifts in supply curve, etc.
• Supply for another product
o Quantity supplied,
o Determinants of supply,
o 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 upon you to
convert the article language into economic language as is appropriate.

 

 

 

Demand, supply, and equilibrium.

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This assignment focuses on demand, supply, and equilibrium. Let’s start with the basics. Begin your assignment by providing the following information.

Explain the difference between a movement along demand and supply curves and a shift of demand and supply curves.
What can cause the above situations? Provide an example for each.
Describe how equilibrium is found.
Describe how a shift of the demand or supply curve can affect equilibrium.
Now, select an industry with which you are familiar or one you would like to study. This industry will also be used in future assignments for this course. After selecting your industry, identify a product or service that your chosen industry produces. Add the following information.

Define the current status of supply and demand for the product or service you identified.
Identify at least one factor that has caused the supply curve to shift for that product or service.
Identify at least one factor that has caused the demand curve to shift for that product or service.

Demand, supply, and equilibrium.

Posted on | by

This assignment focuses on demand, supply, and equilibrium. Let’s start with the basics. Begin your essay by providing the following information.
• Explain the difference between a movement along demand and supply curves and a shift of demand and supply curves.
• What can cause the above situations? Provide an example for each.
• Describe how equilibrium is found.
• Describe how a shift of the demand or supply curve can affect equilibrium.

Supply.

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Define supply. What does the law of supply state? Express it in words, in symbols (clip art or images), and as a graph.