Find a real world example from 2019-2020 of a change in market conditions, for example an observed change in prices or the quantity of a good or service. Using theories of economics, such as the demand and supply model, explain the impact of changing market conditions on the price and quantity of goods or services traded. The real world example:
- will be sourced from newspapers or other media.
- be for a specific city, country or global and over some time period.
- The assignment must, as a minimum, include:
- an introduction;
- a description of the relevant market, including the product or service, location and degree of competitiveness;
- an analysis (including appropriate diagrams) of how changing market conditions are influencing or have influenced or may influence prices/quantities, and
- a conclusion.