Supply and Demand

HOMEWORK ASSIGNMENT #1    

 

PRINTMEDIA EXERCISE                      NAME_____________________

Chapter 3                                                                                                                                                                                                                

Supply and Demand                 Grade __________ 50 points possible                                                                                                                                                      

Find an article that identifies changes in supply and demand in the media.  Use the article to fulfill the following instructions and questions:

1. Print or copy your selected article on a letter-sizedpage. Make sure there is room at the bottom of the article to write the answers to the questions.

Attach this homework sheet to the front of the article.

2. Find an example in the article of one (and not more than one) of the following four possible shifts of supply or demand:

Leftward  shift of the supply curve.

Rightward shift of the supply curve.

Leftward  shift of the demand curve.

Rightward shift of the demand curve.

In the space below the article write the shift of demand or supply that is best represented in the article. The shift may have already occurred, may be occurring currently, or may occur in the future.

3. Use an arrow to indicate evidence in the article of whether the market is an international, national, regional, or local market.
4. Underline the single sentence (not more than a sentence) that describes the change in the determinant of demand or supply that has caused the shift you chose in number 2 above.
5. Draw brackets around the passage (not more than a sentence) that indicates through whom (buyer, seller) the change in the determinant of demand or supply initially affects the market to cause the shift (in number 2 above), ceteris paribus. Under the article write “buyer” or “seller,” indicating with whom the shift originates.
6. Circle the single sentence (not more than a sentence) that indicates a change in price or quantity that results from the shift in demand or supply. (Hint: Make sure the changes are consistent with the shift you chose in number 2 above.)
7. In the remaining space below your article, indicate the source (name of newspaper or magazine), title (newspaper headline or magazine article title), date, and page for the article you have chosen. Use this format:

Source: Date: Page:___________

Title:_______________________________________________________

If this information also appears in the article itself, circle each item.