Complete this in TWO parts and as one assignment.
The first part is based on you finding information from the news and applying it to your daily life. You must pick a current economic topic related to the material we have covered or will cover in this course. Topics we have covered include:
Supply, demand and market equilibrium
Elasticity
Consumer Choice
Businesses and their cost
Pure Competition and Monopoly
Monopolistic competition and Oligopoly
Research and find an article that covers the topic you have chosen. You can use an article online or offline from any reputable source. Write a review of the article and integrate course concepts into your review. Make sure you both summarize the article and discuss how it relates to the course.
The second part of the assignment will include your application of what we have learned in the course. Pick a product or service you use in your everyday life and describe the market for this product.
Address the following questions:
What factors influence the demand for this product?
What factors influence the supply of this product?
How have these supply and demand changes affected this product’s equilibrium price?
Do you anticipate any changes to this product’s demand and/or supply in the near future?
If so, what is driving these changes?
Complete this essay in a Microsoft Word document in APA format. You can separate the paper as Part I and Part II in your paper as a subheading. Your work will automatically be submitted to Turnitin for plagiarism review. Please note that a minimum of 1500 words for your essay is required.
