Supply and Demand Poster Project

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Supply and Demand Poster Project

  1. 1. Supply and Demand Poster Project Due Dates A Day: Friday, April 10 B Day: Thursday, April 9 In class, we have discussed how concepts like supply and demand can affect production and consumption in a market economy. You, along with three other group members, will be creating a poster presentation that demonstrates these forces. Instructions: 1. Choose a product of your own design (or one with which you are familiar), which would be affected by the dynamics of a market economy. 2. Make up four clearly stated headlines describing events that would result in a shift in demand. (You must cover all four of the factors listed below.) Draw a separate graph for each headline. 3. Make up four clearly stated headlines describing events that would result in a shift in supply. (You must cover all four of the factors listed below.) Draw a separate graph for each headline. 4. The graphs, headlines, and any accompanying information should be placed on posterboard material. Factors Affecting Supply Factors Affecting Demand Costs of Production Tastes and Preferences Technology Income Taxes Price of Related Substitutes Quotas Price of Related Complements Each graph should contain: • The name of the product. • A headline affecting change in supply or demand. The headline should not explicitly state which factor is affected. • A thoroughly labeled graph showing supply and demand shifts, equilibrium price 1 and 2, and equilibrium quantity 1 and 2. • An explanation of the shift.

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