Question

please answer ASAP

-Find an article that represents a situation where there is/will be a shift in demand (supply) for some product or service. (restrict yourself to an occurrence that happened in 2018)

-You MUST ATTACH A COPY OF YOUR ARTICLE or URL. (1-2 article examples)

-Briefly explain the situation (in 1-2 lines).

-Then spend most of your time relating the article's events to at least 1 determinant of demand (supply) learned in the chapter and state in what direction demand (supply) will shift.

-Be very explicit in identifying the determinant responsible for the curve shift and in explaining why the curve will move as you predict.

-As an economist, what impact do you predict this change will have on equilibrium price and quantity?

Answer 1

Shift in demand for housing due to Millennials deciding to marry and have kids. Stronger economy and higher incomes is also another factor. This a change in lifestyle of consumers. The demand determinant is consumer preferences which would shift the demand curve to the right (increase). The equilibrium quantity and price will increase.

Economist says housing demand to rise in 2018, thanks to lifestyle shifts.

https://themortgagereports.com/35952/economist-says-housing-demand-to-rise-in-2018