Think about a product that you have purchased recently (e.g. soda, diapers, takeout meals, milk, shoes, manicure/pedicure, video game, etc.). Explain how the law of demand affected your purchase. Give specific examples of how the determinants of demand and supply affect this product (T-I-P-E-N and P-R-E-S-T). What happens to the demand curve and the supply curve when any of these determinants change? Give examples of scenarios that would cause a change in demand versus a movement along the same demand curve and supply curve for this product. Discuss the new equilibrium price and quantity that result from these changes. Can you demonstrate some of these changes graphically?

Pick other markets and use the supply and demand model to analyze prices in them. Can you see how changes in supply and demand drive prices one way or another? Is everyone happy with the price determined by the market? In what ways might government interfere in the market system. What are price floors and price ceilings?

What do YOU think ?
While we're happy to HELP we won't do all the work for you.
Show us what you have done and where you are having problems..

How much time do you have? I have a few hours to kill in which I can write this whole thing out from my perspective... you know... so YOU don't have to be bothered doing your own homework. I mean, I'd gladly take the time out of my day to write all of this out for you so you don't have to.

This is what I understand from this... I recently visited My mechanic to fix my Ac unit in my car and found out its only 60 dollars wherea during the peak of summer and heat to fix an Ac unit in a car was 99 dollars plus tax because more people demanded Ac unit in summer than fall.So as the price of Ac unit dropped or decrease people are more willing to spend to fix it and supply increases and demand increases, whereas during fall and when its cold supply decrease and demand decrease because no one is willing to pay the price at 60.

How much time do you have? I have a few hours to kill in which I can write this whole thing out from my perspective...you know...so YOU don't have to be bothered doing your own homework. I mean, I'd gladly take the time out of my day to write all of this out for you so you don't have to.

Please do because am a bit confused

The product I pick is... *drumroll*... bacon. In the spring, it was dirt cheap. By mid summer, I had to nearly sell my firstborn child to buy a pound. Now -- why? Aaaaaaaaaahhhhhhh!! I know. Do you?