211 M4 Not Enough or Too Much

Not enough or too much; it’s a delicate balance. In this activity, you will select a country and explore the concepts of price ceiling and price floors and market shortages and surpluses.

Locate a recent article (published within the last year) that discusses either the price ceiling or price floor, and market shortages and surpluses of a good or service from your selected country at a macro level. You can use newspapers, new stations, or other credible sources to locate an article. Analyze your selected country’s (US) good or service and determine whether it has a market shortage or surplus. Include the following in your discussion.

-Identify the country and the good or service selected.
-Analyze supply and demand curves.
-Examine the concepts of price ceilings and price floors.
-Explain the causes and predict the effect of changes in demand and supply on the equilibrium price and quantity.
-Differentiate between consumer surplus and producer surplus.
-Discuss whether your selected good or service results in a market surplus or market shortage and explain why.

Summarize your findings using at least 250 words and provide a minimum of one reference. Use current APA formatting to document your sources.

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