Reference no: EM132193236
Instructions:
Identify a specific good or service that you plan to analyze:
Demand
Find a newspaper article that you can relate to demand for your product.
Summarize the article here.
Will demand for your product increase or decrease based on the information in your article? Explain
Describe how changes in the following could affect the demand for your product. Give Examples where relevant.
Elasticity
Describe how changes in the following could affect the demand for your product. Give Examples where relevant.
Based on the determinants of elasticity do you believe the demand for your product is likley to be elastic or inelastic? Explain
Supply
Find a newspaper article that you can relate to supply for your product.
Summarize the article here.
Will supply for your product increase or decrease based on the information in your article? Explain
Describe how changes in the following could affect the supply for your product. Give Examples where relevant.
Overall Analysis
Based on your analysis above do you expect the price of this product to increase or decrease in the future. Explain.