Find a market news event. Scan the news for an article from within the last week about a good or service that interests you. Rea
d the article and determine which is affected: supply or demand. Draw a graph. Draw a basic market graph. Title it the market for the product in your news article. Label the axes, curves, equilibrium price "Pe," and equilibrium quantity "Qe."
Add the shift. Draw a new curve on your graph to reflect the shift in either supply or demand. Label it D1 or S1, accordingly. Label the new equilibrium price P1 and the new equilibrium quantity Q1. Add arrows to show the direction of the changes in the curve, price, and quantity.
Explain the outcomes. In a complete paragraph, explain how your graph illustrates the news event. Describe what changed and why. Include the one element of either TRIBE or ROTTEN that best explains the shift. Describe how this led to the market outcomes for equilibrium price and quantity.
Submit your work. This includes your graph image file and a separate paragraph explanation with the citation for your news article.
A sample market event that talks about a good or service are the quarterly report of XYZ Corporation.
The thing that is affected in the quarterly report is the supply as it has increased.
<h3>What are Supply and Demand?</h3>
This refers to the economic principle that amount of available commodity or service that is available and the desire of buyers that regulates the price.
Hence, we can see that A sample market event that talks about a good or service are given above.
