A key skill in economics is the ability to use the theory of supply and demand to analyze markets. In this week’s discussion, you get a chance to demonstrate your ability to analyze the effects of Russia invading Ukraine on an industry of your interest (pathway or career interest). State whether the reality is as you expected.
Scenario: Will this affect the supply or the demand for new goods and/or services in your industry? Why? Which determinant of demand or supply is being affected? Show graphically with before- and after-curves on the same axes. How will this change the equilibrium price and quantity of goods and services in general? Explain your reasoning and include at least one credible source (news paper article, journal, or magazine) in APA. If you are unable to develop graphs digitally, draw your graph by hand, take a picture, then upload it to your discussion post.
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