Problem: Supply and Demand
The paper should include the following sections: the title page, main body, and references.
Select a market of luxury bag. Use what you know about this industry and knowledge from this course to answer the questions below.
For each of the questions below, explain and justify your analysis using current events and market facts you have researched to support your conclusions.
a) Identify and explain two factors that have caused a shift in the demand curve. Illustrate the impact on the market using supply and demand curves.
b) Identify and explain two factors that have caused a shift in the supply curve. Illustrate the impact on the market using supply and demand curves.
c) Identify and explain one government intervention relating to this market. Explain the government's economic objective and illustrate the impact on the market using supply and demand curves.