Like bread and butter go together, so do supply and demand.
In this activity, you will select a country and explore the concepts of supply and demand and market equilibrium.
IMPORTANT
COMPLETE THE FOLLOWING:
Locate a recent article (published within the last year) that discusses supply and demand of an exported good at the macro level. You can use the Hunt Library, newspapers, news stations, or other credible sources to locate an article. Analyze your selected country‘s exported good and determine the market equilibrium.
THE FOLLOWING WILL BE COMPLETED IN OUR SESSION:
Consider the following for our in-class discussion:
- Identify the country chosen.
- Discuss the exported good.
- Define the Law of Supply and the Law of Demand.
- Examine the change in demand, change in quantity demanded, change in supply, and change in quantity supplied. State how these concepts apply to your selected country.
- Identify the determinants of supply and demand.
- Explain factors that will shift the supply and/or demand curves to the left and/or to the right.
In responding to your peers state:
- Whether you agree or disagree with the findings and why
- A probing question that facilitates further discussion of the topic
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