Equilibration is the process of moving between two equilibrium points as a result of some change in supply or demand.
Understanding how market equilibrium is sought following such a change is essential for business managers. It is important to understand how economic principles, and specifically supply, demand, and their determents are a part of your everyday business decisions.
Write a paper choosing a commodity to analyze 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:
COMMODITY CHOSEN IS APPLE IPHONE
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. You can use a hypothetical situation that explains this (i.e. what environmental factors).
What factors changed and graph these changes to reflect the change in equilibrium.
Deliver the content in no more than a 700-word paper.
You can use your own graphs or Appendix A to create graphs illustrating the movement between the two equilibrium points and include this in the body of the assignment.
Assigment must be consistent with APA guidelines.
Must be original and plagarism free.