Participating in a market economy can reap benefits, especially when, as a consumer, you enjoy a surplus. If a producer has too much of a product, as a consumer, you are more likely to get a better price for that product.
For this assignment, you will write an essay on how the global sugar market illustrates the concepts of consumer and producer surplus.
1. Click the link below and watch the video about sugar production.
Sugar Runs into Barriers (4 min)
Write a two- to three-page essay on how the global sugar market illustrates the concepts of consumer and producer surplus. To do this, consider these questions:
Given the information on the sugar market from the video, describe both the supply and demand curves for sugar.
How would you describe the producer surplus of sugar?
If there is more than adequate sugar being produced, what is the problem?
How would you describe the consumer’s demand for sugar? Is there a surplus?
Once Brazil has completed its seasonal production of sugar, how will the demand and supply curves change?
3. Click on the link ( https://www.wsj.com/video/sugar-runs-into-barriers/AAE38726-2D53-4A47-8A2B-AFD2841C191B.html ) to view the rubric and to submit your completed assignment.
Your essay should be 500-750 words (two to three pages).
Use APA format
Times New Roman 12 pt font, double spaced with 1″ margins.
Title and reference pages are required.
Include an introduction and conclusion.
An abstract is not required.
Use support from at least three reputable sources (other than course materials) written within the last five years.
Be sure to review the assignment grading rubric and the requirements listed above to ensure you are meeting the assignment’s criteria.