I’m working on a Business question and need guidance to help me study.
Find an article in a recent newspaper or magazine illustrating a change in price or quantity in some market. Analyze the situation using economic reasoning.
Students to turn in a copy of the article along with their explanation. Warn students to avoid advertisements because they contain little information. They should be wary of commodity and financial markets unless they have a good understanding of the particular market. Markets for ordinary goods and services are most easily analyzed.
Most changes will only shift one curve—either supply or demand—not both. Remind students that price changes will not cause either curve to shift. (But shifting either curve will change price.)