Chat with us, powered by LiveChat

Explain what causes the shifts, and how each shift affects the price, quantity, and decision making.

Watch the Khan Academy Video “Changes in Market Equilibrium”

https://www.khanacademy.org/economics-finance-domain/microeconomics/supply-demand-equilibrium/market-equilibrium-tutorial/v/changes-in-market-equilibrium

Write a 1,050- to 1,400-word paper summarizing the content of the simulation and address the following: 

  • Identifytwo microeconomics and two macroeconomics principles or concepts from the video.
  • Explainwhy you have categorized these selected principles or concepts as microeconomics or macroeconomics.
  • Identifyat least one shift of the supply curve and one shift of the demand curve in the video.
  • Explainwhat causes the shifts, and how each shift affects the price, quantity, and decision making.

Include responses to the following:

  • How might you apply what you learned about supply and demand from the simulation/video to your workplace or your understanding of a real-world product with which you are familiar?
  • How do the concepts of microeconomics help you understand the factors that affect shifts in supply and demand on equilibrium price and quantity?
  • How do the concepts of macroeconomics help you understand the factors that affect shifts in supply and demand on the equilibrium price and quantity?
  • How does the price elasticity of demand affect a consumer’s purchasing and the firm’s pricing strategy as it relates to the simulation/video?

Paper must be in apa format and you must use three references not wikipedia. 

 

The introduction must contain a thesis statement.

Write the paper in the following paragraph order:

Introduction

 

Two microeconomics and two macroeconomics principles or concepts from the video

 

Why they are categorized as microeconomics or macroeconomics

 

One shift of the supply curve and one shift of the demand curve

 

Cause of the shifts, and how each shift affects the price, quantity, and decision making

 

Application of supply and demand to workplace or understanding of a real-world product

 

How the concepts of microeconomics help one understand the factors that affect shifts in supply and demand on equilibrium price and quantity

 

How the concepts of macroeconomics help one understand the factors that affect shifts in supply and demand on the equilibrium price and quantity

 

How the price elasticity of demand affect a consumer’s purchasing and the firm’s pricing strategy as it relates to the video?

Conclusion 

 

References (3)


Last Completed Projects

# topic title discipline academic level pages delivered
6
Writer's choice
Business
University
2
1 hour 32 min
7
Wise Approach to
Philosophy
College
2
2 hours 19 min
8
1980's and 1990
History
College
3
2 hours 20 min
9
pick the best topic
Finance
School
2
2 hours 27 min
10
finance for leisure
Finance
University
12
2 hours 36 min