REFLECTION. 0. MACROeconomics. FEBRUARY 11, 2019 STUDEN

Running head: REFLECTION 0
MACROeconomics
FEBRUARY 11, 2019

REFLECTION 1
Article- Your grocery bill could rise 3.5% in 2019, study predicts
1. In economics, the demand and supply model reflects relationship between quantity of
produces that producers wish to sell at different quantities and prices, which customer
wants to buy. The supply and demand is basic model to govern price used in cost-
effective model. The price of produces is defined by connection of supply and
demand. This article states that food’s price can rise by 3.5 per cent. However, the
prices of seafood and meat are expected to become cheap. Recently, seafood and meat
have been increased, but the shifting from meat to vegetables and food is decreasing
demand (CBC News, 2018).
Sources taken from: Encyclopædia Britannica, Inc.
2. With the help of this article, I got proper understanding about demand and supply
model. This article states that changes in retail atmosphere, changes in weather, and
changes in customer’s choices are different factors to affect the price and demand of
food. In this way, I came to know about factors influencing demand and supply. I
realized that the quantity of commodities demanded depends on price of that