Description
Supply and Demand Discussion
88 unread replies.88 replies.
Please think of an example from everyday life of an event that caused either the supply or the demand for a product to increase or decrease(please only shift one curve). Please take the time to think of a straightforward (easy) example; it will work much better.
Once you have your example, please complete the following steps for your discussion post:
write a short description of the event explaining if it caused the supply curve OR the demand to shift and in which direction (increase or decrease)
explain how the shift affected the quantity and price in the market for the product.
draw a graph showing:
the original supply and demand curves
the original equilibrium point
the original quantity and price (q1 and p1 are fine – you don’t need to add real prices or quantities)
how the curve shifted (right or left)
the new equilibrium point
the new quantity and price (q2 and p2 are fine)
*don’t forget to label both axes
**Hand-drawn graphs are totally fine. Please just take a picture and upload it to the discussion board.
**Videos are also great if you want to upload one.
**Please don’t forget to post a thoughtful comment to at least one of your classmate’s posts.
