Question

Find an article that identifies a change in supply and/or demand.  Use the article to fulfill the following instructions and questions:

(8 points)

A. Copy and paste the article into your homework assignment.  Be sure and cite your reference for where the article came from indicating the source, author, title, date, and page for the article you have chosen.

B. Find one example in the article of any one of the following four possible shifts of supply or demand:        Leftward shift of the supply curve; Rightward shift of the supply curve.  Leftward shift of the demand curve; Rightward shift of the demand curve.

      Write a short summary addressing the following items:

• What shift occurred in either supply or demand.
• What determinant of demand or supply was changed that caused the shift.  Describe the changes in the determinant that have occurred.
• Indicate evidence in the article of whether the market is an international, national, regional, or local market
• Indicate through whom (buyer or seller) the change in the determinant of demand or supply initially affects the market to cause the shift.

You can provide any article as per your knowledge

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Answer 1

https://hub.jhu.edu/2020/03/06/covid-19-coronavirus-impacts-global-supply-chain/

Goker Aydin: So far, the global effects on supply chains have resulted mostly from the serious situation in China, and we can talk about those effects in two distinct ways. First, it's having an impact on the supply of inputs for many manufacturers and retailers all over the world, and that's important because China is a huge source of components and finished goods. The longer plants in China sit idle, the emptier the global pipeline of parts and components circling the globe, which is meant to feed manufacturers and retailers all over the world. If the disruption continues, we may see many manufacturers, and maybe even retailers, suspending their operations as they run out of the key inputs they need.

Second, China is also a major market for goods and services. Anywhere in the world, local economies that depend on China as a customer are feeling the effects, as consumers in China limit their travel and consumption, and as manufacturers in China slow down or suspend their production. For example, a recent article in The New York Times explained how truck drivers in Mongolia are losing their income because they can no longer deliver coal to China—the border is closed, and the demand for coal is way down anyway. The flow of tourists from China has come to a screeching halt, and that's affecting the tourism sector in many countries, from freelancing guides to major hotels, especially in Asia.,,,

A LEFTWARD shift in supply curve occured.

This is due to the fact that globally and especially the shutdowwn of factories led to a decrease in supply. This is thus an example of supply constraint. The determinant of this shift is SUPPLY SHOCKS.

This is an a global scenario due to complete shutdown in most factories around the world.