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The focus of this project is to explore and understand the shifts in market equi

by | Nov 23, 2022 | Economics | 0 comments

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The focus of this project is to explore and understand the shifts in market equilibrium via shifts in
demand and supply curves while applying it to real-life situations.
( include graph )
Microeconomics Course Project Objective:
Evaluate the real-life situations and apply the concepts of shifts in demand and supply
curves and consequent changes in market equilibrium thereof.
Standards:
12.2.2. Discuss the effects of changes in supply and/ or demand on the relative scarcity, price, and
quantity of particular products.
Requirements:
1) In groups of 3, choose an article that discusses a change in demand or supply of a good or
service. The following are news websites you can use to find an article:
1) www.huffpost.com
2) http://news.google.com
3 www.gulfnews.com
4) www.thenational.ae/uae
5) www.khaleejtimes.com
2) Research: After selecting an article, you need to conduct research on the following aspects of the
chosen article:
a) What is being affected in the scenario, demand or supply?
b) Which factor is causing the change in demand and supply?
c) How is demand or supply curve being shifted?
d) What effect does the shift in demand or supply curve have on market equilibrium?
) How are equilibrium price and equilibrium quantity getting affected?
3) Graph and Analysis: The following must be included:
a) A graph representing shift in demand or supply curve along with shift in market
equilibrium will be constructed. Shifts and changes should be properly displayed
using arrows.
b) A written analysis explaining the shifts in demand or supply curve and changes in
equilibrium price and equilibrium quantity should be made
4) Conclusion
a) A well synthesized conclusion will be written for the scenario chosen and its impact
on demand or supply and market equilibrium (equilibrium price and equilibrium
quantity).
b) The factor causing change in demand or supply should be clearly identified and
should be mentioned in the conclusion.
Presentation Options:
1) Power point presentation
2) Poster presentation (Canva, Piktochart, etc.)
3) Video presentation
4) Other (with teacher’s approval)

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