Economics class

Question

Find 2 current event articles focusing on the issue of pricing. You may choose to use online resources recommended by Prentice Halls Economics Principles in Action.

---one article must focus on a product whose price has increased.

---one article must focus on a product whose price has dropped. 

1. For each article create a cause and effect graph or flow chart showing the cause(s) of price change and effects of the changed price. 

Answers should be written in complete sentences. Each one must contain details and explanations. 

2. How will the change in prices affect demand for each product? 

3. How will the change in prices affect the producers of each product?

4. For each product, has a equilibrium been reached? Why or why not?

Answer 1

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