It is important that you are able to apply demand and supply analysis to events that you experience or read about in your life. Find an article from a newspaper or periodical that illustrates a market. Complete the following steps:
- Underline one sentence (market) to be analyzed (the article may discuss several markets).
- Identify the good or service.
- Discuss the relevant prices and quantities for the current market situation and identify what you believe is the equilibrium price and quantity.
- Discuss any shifts that have taken place in the supply or demand curves. Make certain that movements along a curve are not confused with shifts in the curves themselves.
Complete a one page analysis of your article. The answer should be concise and the market you are analyzing should be clearly stated at the top of the page. Be sure to include a proper APA citation for your article.