Law of demand and the determinants of demand

Reference no: EM13813215

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 determents are a part of your everyday business decisions.

Write a paper, create a video, or create a PowerPoint presentation 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:

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

Reference no: EM13813215

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