Assignment Task
Task
This week the student is introduced to one of the core concepts in economics: the supply and demand model which graphically illustrates a competitive market with many buyers and sellers.
Nature of a competitive market
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Get Help Now!- Determinants of demand and supply in a competitive market and see how they together set the price of a good and the quantity sold
- Consider the role of prices in allocating scarce resources in market economies
- Provide a 2-pager summary of your takeaways from the contents covered under Weeks 2 of this course.
- Your report should include1. Executive Summary: A brief summary of the contents covered3. Empirics (Evidence): Illustrative Example2. Reflection: Decision making strategy under a real-world scenario/policy recommendations or implications4. Concluding remarks
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