Find a news article of your choice describing a good or service (you may use articles from websites such as cnn.com or foxnews.com). Summarize the situation and identify what supply or demand shift factor is at work. Describe the effect on equilibrium price and quantity given the shift factor. Provide a copy of your article with your written assignment.
When you complete this module, you should be able to:
Distinguish between changes in demand and changes in quantity demanded.
Distinguish between changes in supply and changes in quantity supplied.
Examine how the interaction of demand and supply determine the market price and the equilibrium quantity.
Evaluate why marginal utility tends to decline as a person consumes more of a good or service.
***PLEASE ATTACH ARTICLE USED WITH COMPLETED PAPER PLEASE****
**please input some of these vocab words in paper**
Ceteris paribus condition
Law of demand
Law of supply
Market clearing (or equilibrium) price
Diminishing marginal utility
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