part one

Supply and Demand Discussion

Please think of an example from everyday life of an event that caused either the supply or the demand for a product to increase or decrease (please only shift one curve). Please take the time to think of a straightforward (easy) example; it will work much better. Once you have your example, please complete the following steps for your discussion post:
write a short description of the event explaining if it caused the supply curve OR the demand to shift and in which direction (increase or decrease)
explain how the shift affected the quantity and price in the market for the product.
draw a graph showing:                the original supply and demand curves
               the original equilibrium point
               the original quantity and price (q1 and p1 are fine – you don’t need to add real prices or                    quantities)
               how the curve shifted (right or left)
               the new equilibrium point
               the new quantity and price (q2 and p2 are fine)
               *don’t forget to label both axes
**Hand-drawn graphs are totally fine. Please just take a picture and upload it to the discussion board.
**Videos are also great if you want to upload one.
**Please don’t forget to post a thoughtful comment to at least one of your classmate’s posts.
How to Embed Your Graph in Your Response
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.part two

GDP Discussion

Think about (or do a little research about) a country that is considered to be middle- or low-income. What are some of the things that we have access to in the U.S. that people in your selected country don’t have access to (or have less access to)? If you have lived in or visited a poorer country please use your personal experience to answer this question. Please include at least one picture that shows the difference.