Select at least two news articles that discuss demand, supply, and equilibrium price of two
substitute products, like beef and chicken; butter and margarine. It can be two articles that discuss
both products, or one article about one product and another article about another product.
At least one news article should be dated within the previous two months.
Refer to week 2 content materials and use specific economic vocabulary within your
discussion, i.e.
•
Demand for one product:
o Quantity demanded,
o Determinants of demand,
o Shifts in demand curve, etc.
•
Demand for another product:
o Quantity demanded,
o Determinants of demand,
o Shifts in demand curve, etc.
•
Supply for one product
o Quantity supplied,
o Determinants of supply,
o Shifts in supply curve, etc.
•
Supply for another product
o Quantity supplied,
o Determinants of supply,
o Shifts in supply curve, etc.
• Changes in equilibrium quantity and equilibrium price for one product
• Changes in equilibrium quantity and equilibrium price for another product
The articles you choose may not use these exact terms; therefore, it is incumbent upon you to
convert the article language into economic language as is appropriate.
