Please answer this.

Question

ENGLISH ECONOMICS

 

Economics class

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

in order to make your answers complete sentences, begin each one with a part of your question. Examples:

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

The change in prices will affect the demand for each product by...

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

The change in prices will affect the producers of each product by...

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

The equilibrium for each product (you might have to break this one apart, if all of them have not been affected the same) has/has not been reached. (Then you’ll explain why for all (if the same) or for each one (if different).