BU204_02_Russell_Brenda_10 Writing assignment

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Macroeconomics 1 Macroeconomics BU204 Brenda Russell Unit 10 Writing assignment May 27, 2011
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Macroeconomics 2 Reflection Paper Having spent these few weeks in this class, I am grateful for the knowledge that has been imparted to me and the outstanding engagement of our professor as we progress professionally. Here are some of the concepts that have made me a stronger candidate and aid in my professional development. I have learned that there are many causes for changes of supply and demand. Supply and demand is the major backbone to a market economy. The quantity demanded of any good is the amount of the good that buyers are willing and able to purchase. A shift in a demand or supply curve occurs when a good's quantity demanded or supplied changes even though price remains the same. For instance, if the price for a banana was $1 and the quantity of bananas demanded increased then there would be a shift in the demand for bananas. A shift in the demand relationship would occur if, for instance, bananas suddenly became the only type of fruit available. In other words, a movement occurs when a
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