Current Event Writing AssignmentSome of the topics we have already addressed in class include:The need for an economic systemDifferences between capitalism and...

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Current Event Writing Assignment

Some of the topics we have already addressed in class include:

The need for an economic system

Differences between capitalism and communism

Production Possibilities Frontier

Gross Domestic Product

Government intervention in economics

Developing countries

Economic questions of "what", "how", and "for whom" to produce Supply and Demand Consumer Demand

Demand and supply

These are relevant, practical, economic topics that are evident in current events and addressed in the media.


Find a current event story in a magazine, newspaper, or other media that discusses an economic concept we have addressed in class. Prepare a 2-3 paper; the first page should introduce the topic and provide a summary of the news story. The second page (and third if applicable) will correlate the details of the news story to the economic concept.

summarize the article one page and other page should talk about the topics above which we have learnt in class.(the topics listed above)

Answered 2 days AfterFeb 18, 2023

Answer To: Current Event Writing AssignmentSome of the topics we have already addressed in class...

Deblina answered on Feb 20 2023
34 Votes
Economic Concept         2
Table of

News    3
Economic Concept    3
References    6
The recent news has been addressing to the subsequent factors that are relating to the oil markets. The oil market has been facing a typical crisis in the recent and more prominent in the future. The experts are complaining about the production capacity is on the words of dwindling and under investment is threatening the future supply. According to the experts it is found that the industry is not spending enough to secure the future production and that spare capacity global is declining. It has been addressing that there is an acute shortage of oil crisis and this is perhaps reflected in the rising oil prices across the globe. The rising demand from the developing countries had also contributed towards the deficit which is expected to be manifested in the subsequent quarters of this year (Economic Times, 2021). In response to the producers, it is found that the spare capacity is leaving its lower level than it was before. Eventually this would lead to the serious imbalance between the supply and demand. It has been addressed by the Saudi Arabia's energy minister that the concern about the insufficient spending on the future oil production has been acute and needs to be addressed with the more a prevalent aspect of the oil crisis. The barrel a...

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