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Economics 1.05 The Market Price
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Assignment for economics 1.05 the market price The market for teslas
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In my graph, the demand increased or shifted to the right. According to the article “Tesla justhad its best week since May 2013,” Tesla shares went up by 33% this week, surpassing their
previous weekly record since May 2013. This means the demand increased, causing the price
and quantity to also go up. The article states, “CEO Elon Musk said the company was on target
to potentially produce 2 million vehicles in 2023, and he suggested demand would support sales
of those cars as well” (Goswami). This relates to the B in TRIBE for buyers. The demand for
Tesla increased, meaning the number of buyers increased.
Source:
Goswami, Rohan. “Tesla Just Had Its Best Week since May 2013.”
C N B C
, CNBC, 27 Jan. 2023,
https://www.cnbc.com/2023/01/27/tesla-just-notched-its-best-week-in-a-decade-as-stock
-soars-33percent.html.
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