6 posted a question Sep 21, 2014 at 5:59pm Using a real world experience in a free market (not government regulated) to describe a change that occurred in supply or demand as a result of world events that led to the need for a move between two equilibrium states. Explain the process of how that movement occurred using behaviors of consumers and suppliers. Graph the movement between the two points as well.
Required Elements:
Include academic research to support your ideas
Consider the Law of demand and the determinants of demand
Consider the Law of supply and the determinants of supply
Describe Efficient markets theory
Explain Surplus and shortage