Eco 561 Week 2 Individual Market Equilibration Process Paper

ECO/561

Individual Assignment: Market Equilibrating Process Paper

• Write a 350- to 500-word paper in which you relate the concepts in this week's

readings to a prior real world experience. The experience does not necessarily have

to be work experience.

• Discuss the market equilibrating process in relation to your experience.

• Format your paper according to APA standards.

Market Equilibration Process Paper

Market equilibration can be accomplished when market price established through competition so the amount of good bought is equal to the number of goods sold. Supply and demand would be factors to change the market equilibrium. In the oil industry market equilibrium is determined by the cost of oil, competitor's...