Forces of Demand and Supply
Equilibration is the process of moving between two equilibrium points as a result of some change in supply or demand. Understanding how market equilibrium is sought following such a change is essential for business managers. It is important to understand how economic principles, and specifically supply, demand, and their determinants are a part of your everyday business decisions.
Write a paper choosing a commodity to analyze using a real world experience in a free market (not government regulated) to describe a change that occurred in supply or demand as a result of world events that led to the need for a move between two equilibrium states.Explain the process of how that movement occurred using behaviors of consumers and suppliers. Graph the movement between the two points as well.
Required Elements:
COMMODITY CHOSEN IS APPLE IPHONE
- Include academic research to support your ideas
- Consider the Law of demand and the determinants of demand
- Consider the Law of supply and the determinants of supply
- Describe Efficient markets theory
- Explain Surplus and shortage. You can use a hypothetical situation that explains this (i.e. what environmental factors).
- What factors changed and graph these changes to reflect the change in equilibrium.
- Deliver the content in no more than a 700-word paper.
- You can use your own graphs or Appendix A to create graphs illustrating the movement between the two equilibrium points and include this in the body of the assignment.
- Assignment must be consistent with APA guidelines.
- Must be original and plagiarism free.
Preview Answer-Forces of Demand and Supply
