Supply and Demand Analysis Ras Jones Galen University Intermediate Microeconomics (210) Mrs. Ivanka Magana March 4th, 2013
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Table of Contents
Abstract Acknowledgement Introduction Modeling and Forecasting Demand of Cereal in Nepal Modeling and Forecasting Demand for Cereal in Nepal Assessing the Cereal Supply Deficit or Surplus Conclusions References
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Abstract The purpose of this paper is to describe three main building blocks of supply and demand analysis which are supply curves, demand curves, and the concept of market equilibrium. The focus of this research is based on information acquired from the eBook provided to us by Galen University. This book is titled “Microeconomics” a 4th Edition and was written by David A. Basenko and Ronald R. Braeutigam with contributions from Micheal J. Gibbs, The University of Chicago, and Booth School of Business. In the form of a questionnaire, it is established that the demand and supply for corn is used to make many food and industrial products such as corn oil, alcohol and most important corn torilla which all falls under a need to society. Moreover, corn is an interesting crop as we can eat it, we can manufacture consumer products with it, we can wear it as today’s technology is so advanced that corn is used in production of fabrics. As a result, producers of corn products develop a culture of loyalty to its company and to its consumers providing mass amounts of products in accordance to the demand of the product. Overall, the prime concern for corn producer is ensuring that there is sufficient food supply for the future. An analysis made from the questionnaire there is substantial evidence that the supply and demand for corn will always be in demand therefore there needs to be and even flow of supply or equilibrium.
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Acknowledgment This research paper was prepared as a...