While thinking about what you learned in Chapter 3 in your textbook, write a new

While thinking about what you learned in Chapter 3 in your textbook, write a new thread in which you:
Based on the current COVID-19 crisis,
Describe a real-life shortage of a good or service you are currently facing.
What is the effect on the demand curve (e.g. movement or shifts – which direction) and the market equilibrium?
If it is a shift, do use the factors of demand (e.g. taste, income, number of buyers, etc.) to explain.
Describe a real-life surplus of a good or service you think is available in the economy.
What is the effect on the supply curve (e.g. movement or shifts – which direction) and the market equilibrium?
If it is a shift, do use the factors of supply (e.g. price of resources, technology, number of sellers, etc.) to explain.
Please use unique examples from your peers to show the shortages/surpluses in the U.S. economy. This will add variety and depth to the discussion.

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