Graphs – Supply and Demand curve; Price Floors and Price Ceilings
1. Shift and Movements along the Supply & Demand Curve
Graphically Illustrate and explain a shift and movements along the Supply & Demand Curve.
2. Price Floors & Price Ceilings
Graphically Illustrate and interpret Price Floors & Price Ceilings.
Economists use graphs to visually explain economic concepts that will allow students to understand the relationships between several variables.
For this assignment you may use excel, outside software from the Internet or good old fashion pencil, paper and a ruler to construct your graph. The graphs must be neat, clear, concise and easily understood. Provide as much detail on your graph or in a separate word document that specifically details and explains the concepts you are conveying in your graph. Some graphs will be more detailed then others, thus ensure you have covered the weeks topic in great detail so there’s no confusion.
Remember, it is your responsibility to full explain the graph and concepts you are attempting to convey. If the meaning of your graph is unclear, your instructor will deduct points from the assignment.
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