Like bread and butter go together, so do supply and demand. In this activity, you will select a country and explore the concepts of supply and demand and market equilibrium.
Identify the country chosen.
Discuss the exported good.
Define the Law of Supply and the Law of Demand.
Examine the change in demand, change in quantity demanded, change in supply, and change in quantity supplied. State how these concepts apply to your selected country.
Identify the determinants of supply and demand.
Explain factors that will shift the supply and/or demand curves to the left and/or to the right.