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Week 3 Case Study: Microeconomic Analysis: Supply and Demand
Overview
Market demand represents the sum of the individual demand for a commodity (a good or a
service) from buyers in the market. If there are more buyers who are willing and able to pay for a
commodity, then market demand at each price level will rise. On the other hand, market supply
represents the total quantity of a commodity that producers are willing and able to provide to the
buyers at a given price level. Market equilibrium occurs where the quantity supplied equals the
quantity demanded, and the market price (equilibrium price) is set at that quantity (equilibrium
quantity).
The equilibrium price and equilibrium quantity are not static, however, meaning that they change
due to changes in market demand or market supply. A commodity that once was popular and its
production was profitable, for example, might lose popularity. As a result, its price declines and
its profitability declines, too. Whenever the demand for a commodity rises or declines and
whenever the production of a commodity expands or shrinks, it is certain that a market force or a
set of forces have taken place to cause this change. At the same time, whenever market demand
and/or market supply change, the market price and quantity of that commodity changes, too.
Dynamic and free markets are constantly changing due to changes in factors (determinants) that
affect either demand, supply, or both. Analyzing and understanding the forces behind the shift in
market demand and market supply determines the growth pattern of the commodity.
Assignment Description
In this assignment, we are going to analyze the changes in market demand and market supply for
a commodity (a good or a service). In addition, we are going to analyze how the changes in
demand and supply affected the market price and production of this commodity. To do so, we are
going to address the key factors (determinants) that have caused the shift in demand and/or the
shift in supply. The goal here is to provide an objective analysis of the forces that have caused
this change to better understand the behavior of the market and to determine the potential growth
or decline for this commodity. Some of the commodities that have experienced a drastic change
(an increase or a decrease) in supply and/or demand in recent years are organic foods, cage-free
eggs, social media, higher education, online education, healthcare services, online banking,
online shopping, DVD players, digital cameras, fidget spinners, health clubs, bottled water,
landlines, Cash for Gold, and fried food. You could use one of these commodities for your study
or choose one you are familiar with or prefer.
To start, select a commodity that you wish to analyze to determine changes in its market demand,
market supply, equilibrium quantity (output), and equilibrium price.
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Your research needs to be structured with consistent and clear thoughts. It also needs to be
supported by actual data. Your results need to be based on solid facts. Your conclusion and
opinion need to be thorough and based on your findings and understanding of supply and
demand determinants.
Writing Style (APA) and Page Number Requirements
Font Type: Times New Roman or Arial
Font Size: 12
Spacing: Double
Number of Pages: Three to five pages, not counting the separate Title page and the separate
References page
Structure and Requirements
•
Title Page
o Title of the paper
o Name of the author
o E-mail address of the author
o Class name
o Professor’s name
o Date
•
Introduction
o Describe your commodity and the market that commodity targets (geographic or
demographic).
o State when, how, and why the commodity has became popular or less popular.
o State the factors (demand determinants and supply determinants) that have caused its
supply and demand to change and how those changes affected it price. Basically, why
has demand and supply for that commodity changed?
•
Data
o Obtain data from at least three credible sources (not Wikipedia) to provide facts
about the changes in demand and supply.
o Use tables, graphs, and figures to support your argument. You could use figures
that show the changes in demand and supply, as well as changes in the market
Revised 03/04/2020
price for the commodity.
•
Analysis
Use the findings from your data section to fully explain the growth or decline pattern of
the supply and demand. Is the commodity growing or is it declining, and why? If it is
growing, state the factors that led to its growth. If it is declining, state the factors that led
to its decline.
•
Conclusion
Provide your own final thoughts, opinion, and understanding of the outcome. Do you
believe this commodity is profitable for its producers? Or should they provide something
different instead? Or should they modify the commodity? Moreover, if you were to
produce this commodity, what would you do to increase your revenue?
•
Reference List
Use at least three professional sources to support your argument. The references need to
be in APA format.
To learn more about APA format, click (and hold your CTRL key) on the link below or
copy/paste the link into your browser address bar.
APA Resources: http://libguides.devry.edu/c.php?g=181472&p=1194156
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Week 3 Supply and Demand Ana
Requirements
Possible Points
Introduction: Exhibits effective content and writing, including APA.
Provides a clear identification of the commodity addressed and the
supply and demand factors that have caused demand and supply to
change.
25
Data: Appropriate level of content and data was used and data
specifications met. Analysis and synthesis skills were applied to include
a broad range of material, connecting theory with real data and/or
experiences.
50
Analysis: The creative process was applied where student formulated
an identified challenge and was able to draw conclusions to develop
scholarly thinking about problem or concept assigned.
Points Earned
50
Conclusion: Case study shows critical thinking through the application
of concepts learned in the module.
25
Total Points Earned
Revised: 03/04/2020
150
0
and Demand Analysis: Case Study Grading Rubric
Criteria and Points
Excellent
Provides sufficient overview
of commodity using sources
in APA format
Competent
Fair
Poor
Provides some overview of Attempts to provide overview Insufficient overview and
commodity using sources in of commodity but sources are sources are not properly cited
APA format
not properly cited
20–25 Points
15–20 Points
10-15 Points
5–10 Points
Sufficient historical and
current data obtained from
credible sources
Current data obtained from
credible sources, but data
does not address all variables
Data does not provide
historical trends of the
commodity
Data does not provide
historical trends of the
commodity and data is not
current
45–50 Points
40–45 Points
35–40 Points
25–35 Points
Sufficient analysis of trends
and causes of changes in all
required variables
Sufficient analysis of trends
and causes of changes in
some required variables
45–50 Points
40–45 Points
Shows critical thinking
through the application of
concepts learned in the
module
20–25 Points
Lacks clarity and does not
Does not provide clear and
highlight causes of changes in cohesive analysis of trends
required variables
and does not address causes
of changes in variables
35–40 Points
25–35 Points
Shows critical thinking
Shows some understanding of Provides some idea about the
through the application of variables but lacks clarity and
variables but lacks
concepts learned in the
cohesiveness in relating those
understanding of their
module but does not fully link
variables to one another relationship and effect on one
variables to each other
another
15–20 Points
10-15 Points
5–10 Points
Unacceptable
Does not state what
commodity is being
researched
0–5 Points
Does not address the trends
of the commodity’s
demand/supply and prices
0–25 Points
Does not provide analysis of
required market variables
0–25 Points
Does not demonstrate
understanding of required
variables
0–5 Points
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