The product I want to use is medical gloves or medical mask which ever is easier
In the paper the question must be answered using two pages and the rest are the graphs and reference page. if you have any questions please let me know
The goal of this project is to demonstrate your understanding of the impact on pricing caused by inflation and factors that affect demand and supply. Additionally, this project is to help understand the integrative nature of microeconomics and macroeconomics.
Instructions: Source a chart, table, or graph of year-over-year inflation rates calculated monthly in the United States from September 2019 – September
2023. Next, identify a good or service and build or source a chart, table, or graph that represents the price of this good or service as it changes over the same time period as the inflation rates (2019-2023). The display of inflation rates and the price fluctuations of your chosen good or service must be in the same format and included in your Word document.
o Submissions must be no more than 2 pages (excluding charts, graphs, or tables and references), double-spaced, in Times New Roman
12pt font.
o The sources of your data must be referenced using APA citation guidelines.
o PLEASE REMEMBER THAT A CHANGE IN PRICE DOES NOT SHIFT DEMAND OR SUPPLY, IT ONLY CHANGES THE QUANTITY DEMANDED OR SUPPLIED
Answer this questions:
Answer the following questions thoroughly:
o Does the price of your chosen good or service trend with inflation rates? At what points during the timeline?
o What potential factors are affecting demand, thus price, for your chosen good or service over the timeline? Please provide at least 3 examples. These examples do not need to be confirmed as the underlying causes, but do need to conform to the rules/laws of microeconomics that dictate effects on demand. Each rule/law referenced needs to be directly tied to one of your examples.
o What potential factors are affecting supply, thus price, for your chosen good or service over the timeline? Please provide at least 3 examples. These examples do not need to be confirmed as the underlying causes, but do need to conform to the principles of microeconomics that dictate effects on supply. Each rule/law referenced needs to be directly tied to one of your examples.
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