Complete an essay, which analyses and evaluates the reasons for changes in the price of ONE of the 3 following goods:
1) Crude oil between 2015 – 2019
2) Housing market in the United States between 2015-2019 3) Gold between 2015-2019
You must choose ONE of the goods and follow the below structure to explain what has happened to prices of the good you have chosen over the time period stated:
• Use the model of supply and demand and provide a textual and diagrammatic explanation, using the supply and demand curves for the changes in the prices of the good
• Explain the elasticity of supply and demand of the good
• Discover and describe the market structure of the good and specifically if there are any cartels/price fixing activities in the industry effecting the price changes discussed
You should use relevant theories in your answer, but you should also refer to data and other studies where relevant. This essay should be completed by you individually, it is not a group assignment.
Formalities:
• Word count: 1000 words
• Cover, Table of Contents, References and Appendix are excluded of the total word count.
• Font: Arial 12,5 pts.
• Text alignment: Justified.
• The in-text References and the Bibliography have to be in Harvard’s citation style.
• Word or Pdf formats are accepted.
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