Macroeconomic Writing Essay

In this assignment, you will write to a parent or significant other and explain the concept of “supply and demand”; and how they can be used to understand how the price and quantity sold of a good or service is affected by events.  You’ll probably need to help them understand the difference between price affecting quantity and a change in the supply or demand for a product.  An example and a graphic might help them understand as well.  To find a recent example, you could go to Google newsand search for:  price supply demand -oil   That will bring up some news articles about products other than oil, which is a slippery topic you might want to avoid.

Remember, they don’t have an economics background, so you’ll need to go step by step and help them relate to the principles.