Refer to newspapers or the Internet and collect information about a recent situation of unrest, such as a war or a terrorist attack. Then, considering all that you have learned about the behavior of producers, consumers, and markets, post a response to the following:
- How might such unrest impact the individual demand and supply of goods and resources in the affected country? What happens to market equilibrium, equilibrium prices and quantities; and wages and quantities of resources? Would all products be affected in the same way, or would there be some exceptions?
- How would international trade be affected?