Supply curve slopes upwards or downwards

Assignment Help Microeconomics

Reference no: EM1374301

1. Provide some example of a goods that you purchase or market at your workplace to demonstrate why demand curve slopes downwards and why supply curve slopes upwards?

2. What factors shift your demand for goods (note: price is not a demand shifter)? Give an example of how a demand determinant shifted your demand for a good.

3. Describe a real-life shortage or surplus of a good you have wanted to purchase or market at your workplace. How is this imbalance reconciled in the marketplace?

Reference no: EM1374301

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