Supply and Demand Poster Project - McGrath's Classroom
Supply and Demand Poster Project In your group (maximum of four members), complete the following: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.Make up four clearly stated headlines describing events which would result in a shift in demand using the four factors listed below. Draw a separate graph for each headline.Do the same for the four factors resulting in a shift in supply listed below. Again, drawing a separate graph for each headline.Each graph should contain:The name of the productA headline affecting change in demand or supplyA thoroughly labeled graph, showing supply and demand shifts, equilibrium price 1 and 2, equilibrium quantity 1 and 2. An explanation (includes reasoning) for the shift.The headline may not explicitly state which factor is affected.Example: Product: Starbucks Soy ChaiHeadline: McDonald’s Unveils Premium Tea LineExplanation: McDonald’s tea price would be lower, therefore increasing demand for McDonald’s tea. Because McDonald’s tea and Starbuck’s Soy Chai are substitutes, that would lower demand for Starbucks Chailower P and Qd.37973076200E200E2121793075565E100E145910576200003886201498600028321075565006286575565P00P9340851083310Q100Q15822951083310Q200Q2-50800499110P200P2-50800252730P100P1802005612775001992630497840D100D11992630948055D200D2195135599695S00S30099061214000300990401320001065530401320003886203486150015138401082675Q00Q300990108267500Factors to include:Demand:Supply:Tastes and preferencesResource prices (costs of inputs)IncomeTechnologyPrice of related substitutesGovernment ActionPrice of related complementsWeather or Number of SellersPresentationDUE: ___________________Each student will be called on randomly to explain several of the 8 graphs.The explanation must follow this format:Product with a headlineWhat changed (demand or supply) and why?What happened to the equilibrium price?Each person is responsible for all graphs on his/her group’s poster. You will be called on randomly to explain the graphs. Everyone’s score depends on the sum of the group members’ responses. (30 points total) ................
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