Applying Supply and Demand: Real World Examples
For this assignment, you need to explain how two different graphs may apply to current-news articles (not a blog, not Wikipedia, not an opinion article, not from a journal) that implicitly (not directly) describe two different changes in demand and supply. The learning objective is to understand how supply and demand impacts markets and prices.
Assignment Instructions:
- Find two (current) news articles on the Internet that IMPLICITLY describe shifts in the supply curve and/or in the demand curve and illustrate two different graphs. In other words, the articles MUST NOT directly say which graphs to use. For example, inappropriate articles would be the ones with titles like “demand is short”, “excess supply”, “high demand”, and so on. Instead, the titles must be about changes in prices and/or sales (watch video below for more guidance). The article must be recent (within the last six months), and MUST NOT be from an encyclopedia, journal, or reference website that discusses demand and supply. DO NOT use blogs. Use well-established business web sites like “google.com”, or “yahoo.com”. To get a better idea, please watch the embedded video below.
- 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 articles. (Do not quote the article, but explain it as if you were telling someone about it.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 referencesare required.) If you use more than one article, then citations are required.
- Explain which two graphs 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.
- 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.
- Provide a full URL link to the article along with an APA-formatted reference to the article at the bottom of your submission.
- Important: This is a Microeconomic course. Do not choose an article discussing Macroeconomic issues: Inflation, unemployment, trade deficit, government budget deficit, etc.
To receive full credit, your submission must be at least at least 750 words long, excluding the reference and the article link information.
Now click on the “Final Research Assignment” title at the top of the page and submit your assignment as a Word Document.
