Discussion Forum -Unit 3 PDF

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Find a recent news article (within the last six months) which addresses one or more of the sources of demand. Based on the article, describe how the sources are shifting the demand. Is it increasing or decreasing? What is causing it? Will supply be sufficient to meet that demand level?This article i...

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Find a recent news article (within the last six months) which addresses one or more of the sources of demand. Based on the article, describe how the sources are shifting the demand. Is it increasing or decreasing? What is causing it? Will supply be sufficient to meet that demand level? This article is addressing the livestock businesses in The Gambia. Livestock business is one of the household businesses in the Gambia and it contributes about 25% of the agricultural sector’s annual GDP and 5% of the national GDP. This sector contributes to the economy of the Gambia. Most of the farmers in the Gambia are also in the livestock business. (Access Gambia Overview) Describe how the sources are shifting the demand. During festive periods, livestock businesses have yielded so much demand. Many people buy livestock for household use during festive periods, thus making the demand high during these periods. During festive periods, demand rises and falls outside festive periods, thus causing a shift in demand. Is it increasing or decreasing? An increase or decrease in demand is the increase or decrease in the volume of demand and supply from equilibrium. Increase in demand occurs when there is a drop in price and the consumers can afford to buy at that price, causing a shift in the demand curve to the right. When prices are very high, there will be a decrease in demand at this point consumers are not able to buy then demand will drop, causing a shift in the demand curve to the left. What is causing it? Shift in demand is cause by availability of consumer’s income. It may be due to a change in the price of livestock and even the preference of consumers. Will supply be sufficient to meet that demand level? Supply will be sufficient to meet the demand except if there are scares in the livestock sector that will cause supply not to be sufficient to meet demand. Reference: Access Gambia Overview: Retrieved from: http://www.accessgambia.com/information/economic-profile.html ....