Equilibrium Stories 2021
For each of the following topics:
- Construct a supply diagram to show initial market equilibrium
- Using information from the article, explain whether supply or demand has shifted.
- Explain whether there would be excess supply or excess demand at the old price, after the shift you have described.
- Explain what has happened to the price of the product, as an effect of the excess supply or excess demand.
Bonus: Try to explain, where possible, what the shape of the supply and demand curves will look like.
For example:
- Items that are necessities will have steep demand.
- Items that are difficult to increase production ill have steep supply.
Puppy Prices Soar
https://www.bbc.co.uk/news/uk-scotland-54115646
Southwest House Prices Increase
https://www.bbc.co.uk/news/business-56359865
https://www.bbc.co.uk/news/business-56734468
UK Holidays Summer 2021
https://www.bbc.co.uk/news/business-56898843
https://www.bbc.co.uk/news/business-57140763
Market for Ice Cream in Pandemic
https://www.bbc.co.uk/news/business-57149071
A Shortage of Turkeys for Christmas
https://www.bbc.co.uk/news/business-58699444
https://www.bbc.co.uk/news/uk-england-norfolk-58736742
Petrol Prices Rise
https://www.bbc.co.uk/news/business-58718148
Energy Prices Rise
https://www.bbc.co.uk/news/business-58090533
Rise in Price of Carbon Dioxide for CO2 in Food Industry
https://www.bbc.co.uk/news/business-58641394
Oil Prices Rise
https://www.bbc.co.uk/news/business-58727437
Large Rise in the Price of Garden Furniture
https://www.bbc.co.uk/news/business-58372882
Prices for UK Self-Catering Holidays Rise
https://www.bbc.co.uk/news/business-58320668
Matel Has Higher Prices for Toys
https://www.bbc.co.uk/news/business-57993497
Price of top China soy sauce raised as costs surge:
https://www.bbc.co.uk/news/business-58893732
Apple shares drop on iPhone 13 production fears
https://www.bbc.co.uk/news/business-58892176
Yorkshire house prices:
The epicentre of Britain's pandemic house price boom
https://www.bbc.co.uk/news/business-58502618
Global Shortage of Microchips:
https://www.bbc.co.uk/news/business-58230388