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1. Find a news article that discusses a particular market which has been affected by the Covid-19 crisis. This market should show a shift in demand (increase or decrease) or a shift in supply (increase or decrease), or both. Include a title, link, or pdf of the news article you found. Be sure use a reliable news source and avoid macroeconomic topics (unemployment, GDP, etc) and articles about the stock market. 3. Compose a response to the following: Describe your market and what change has occurred. What underlying factor has changed the market? Which curve is affected--supply or demand? Which way is the shift--an increase or a decrease? According to the model, what should we expect with regard to price and quantity? In reality, did the market actually react the way the model would suggest? If not, why not? Remember that models are helpful to explain and predict things, but they don't always mirror reality. Again, be sure to include a title, link, or pdf of the news article
Date Posted: 15/02/2021
Category: Economics
Due Date: 16/02/2021
Instruction
1. Find a news article that discusses a particular market which has been affected by the Covid-19 crisis. This market should show a shift in demand (increase or decrease) or a shift in supply (increase or decrease), or both. Include a title, link, or pdf of the news article you found. Be sure use a reliable news source and avoid macroeconomic topics (unemployment, GDP, etc) and articles about the stock market. 2. With the information you know about economic principles and the supply and demand model, briefly analyze what is happening in this market. The article may give you some clues as well. It may be helpful to graph the change in this market although that does not need to be part of your response. 3. Compose a response to the following: Describe your market and what change has occurred. What underlying factor has changed the market? Which curve is affected--supply or demand? Which way is the shift--an increase or a decrease? According to the model, what should we expect with regard to price and quantity? In reality, did the market actually react the way the model would suggest? If not, why not? Remember that models are helpful to explain and predict things, but they don't always mirror reality. Again, be sure to include a title, link, or pdf of the news article you found.
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