Introduction
Have you ever wondered why fuel prices suddenly increase or why some products become hard to find? These changes are not random they are influenced by the economic concepts of supply and demand.
Task
You are a young economist assigned to investigate a real-life situation where supply and demand have changed.
Your task is to:
- Choose a real-world example (e.g., rising fuel prices, food shortages, popular gadget demand)
- Explain what caused the change in supply or demand
- Analyze how it affected prices and availability
- Present your findings in a creative format
Process
1. Understand the Concepts
2. Choose a Case Study
3. Investigate
4. Analyze
5. Create Your Output
Evaluation
1. Understanding of Concepts -30%
2.Analysis of Case - 30%
3. Use of Evidence - 10%
4. Creativity & Presentation- 20%
5. Communication - 10%
Conclusion
Congratulations! You have explored how supply and demand influence the world around you. From the prices you pay to the products available in stores, these economic forces shape everyday life. As a young economist, you now have the skills to analyze real-world situations and make informed decisions as a consumer.