Microeconomics

You will be evaluating each of the questions as you will need to make sure to use relevant economic terms and content development in your work.

Scoring Rubric:

1. must include APA formatted in-text citation/reference, 20%

2. use of economic terms, 20%

3. correctness to each question and at least 2-3 paragraphs for each question, 60%

Questions:

1. Explain the law of demand to a recent purchase that you have had to make.

2. Explain why prices are always flexbile.

3. Analyze the role of the government when determining prices in markets.

4. Identify one determinant of demand that has influenced the price that you have recently purchased and how it influenced markets.

5. Identify one determinant of supply that has influenced the price that you have recently purchased and how it influenced markets.