ECON 211 Macroeconomics Week 3 discussion

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Here are the instructions for this discussion. Since it is a discussion, there is no need for a title page. Thanks.

Like bread and butter go together, so do supply and demand. In this  activity, you will select a country and explore the concepts of supply  and demand and market equilibrium.

Locate a recent article (published within the last year) that  discusses supply and demand of an exported good at the macro level. You  can use the Hunt Library, newspapers, new stations, or other credible  sources to locate an article. Analyze your selected country’s exported  good and determine the market equilibrium. Include the following in your  discussion.

  • Identify the country chosen. 
  • Discuss the exported good. 
  • Define the Law of Supply and the Law of Demand. 
  • Examine the change in demand, change in quantity demanded, change in  supply, and change in quantity supplied. State how these concepts apply  to your selected country.
  • Identify the determinants of supply and demand. 
  • Explain factors that will shift the supply and/or demand curves to the left and/or to the right.

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