Supply and Demand Alternatives Assignment | Homework For You
Select a current events article that focuses on changing economic market conditions and the impact of these changes on a particular firm. Some sources to consider are The Economist, Forbes Magazine, Bloomberg, Bloomberg Businessweek, Wired, Entrepreneur, Inc., and Fortune. It is also recommended you research within the University Library. Here are a few examples of search criteria that may be utilized to find an article: economic market, market conditions, and financial markets.
Write a minimum 1,050-word summary of the content in the article which addresses the following:
- Identify two microeconomics and two macroeconomics principles or concepts from the article.
- Explain why you have categorized these selected principles or concepts as microeconomics or macroeconomics.
- Identify at least one shift of the supply curve and one shift of the demand curve that resulted from the events detailed in the article.
- Describe how changes in the price of the product produced by the firm impacts revenues and as a result may affect profits.
Include brief responses to the following in your paper:
- How might you apply what you learned about supply and demand to your workplace, industry or your understanding of a real-world product with which you are familiar?
- How do the concepts of economics help you understand the factors that affect shifts in supply and demand on equilibrium price and quantity?
- How does the price elasticity of demand affect a consumer’s purchasing and the firm’s pricing strategy?
- How does fiscal policy impact business decisions and consumer choices? Get Economics homework help today