Eco 561: Market Equilibration Process
Market Equilibration Process Paper
ECO/561
David Mozinski
Market Equilibration Process The laws of supply and demand seem to be a simple concept to understand. In the following paragraphs we will look at how one event in society can change the course of a product that seems to be in an equilibrium state, along with what happens when a product is in surplus or shortage. On December 14, 2012, a horrific event happened at Sandy Hooks Elementary School that took several lives. Who would have thought that in the same day of this tragedy that ammunition sale would hit an all-time high? The demand for ammunition became so high that stores could not keep ammunition on the shelf. People were scared and feared for their children,
ECO/561
David Mozinski
Market Equilibration Process The laws of supply and demand seem to be a simple concept to understand. In the following paragraphs we will look at how one event in society can change the course of a product that seems to be in an equilibrium state, along with what happens when a product is in surplus or shortage. On December 14, 2012, a horrific event happened at Sandy Hooks Elementary School that took several lives. Who would have thought that in the same day of this tragedy that ammunition sale would hit an all-time high? The demand for ammunition became so high that stores could not keep ammunition on the shelf. People were scared and feared for their children,