ECON 210 Week 2 Project part-1 | Assignment Help | Franklin University Of Phoenix
- Franklin University / ECON 210
- 08 Mar 2019
- Price: $3
- Other / Other
ECON 210 Week 2 Project part-1 | Assignment Help | Franklin University Of Phoenix
Purpose
To assess your ability to:
- explain in words what the elasticity of demand and
supply are.
- explain the Law of Demand and the Law of Supply (for
both price increases and price decreases).
Action
Items
- Write a one to two page paper, address the following:
- Describe (in your own words) what it means for a
market to be in equilibrium.
- Provide a real world example of how a change in demand
resulted in a change in the market price.
- Provide a real world example of how a change in supply
resulted in a change in the market price.
- Answer the question below in your conclusion:
- How does the price mechanism work to keep markets in
equilibrium?
- Include a title page and a reference page. The
reference page and title page are not included in your page count.
Follow APA guidelines when you cite your resources and create your
reference page.
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