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Describe its market situation. You essay needs the basics: Who are the suppliers? Who are the demanders? What determines each groups’ ability and willingness to supply and demand the good? What determines the quantity sold in a year and the average price it is sold?
You can get your data through interviews or secondary sources and lectures and the textbook. An approximate plot of the demand and supply curves of your chosen market is required as part of your essay.
You can get your data through interviews or secondary sources and lectures and the textbook. Online encyclopedias such as Wikipedia do not count as valid sources.
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