Article published: Feb 11, 2020
IB Economics syllabus: Microeconomics (demand and supply, market equilibrium, shortage)
This is an interesting article about how the infamous coronavirus can lead to a lack of supply of hockey sticks in North America. Interestingly, as most of the hockey sticks are produced in China, the supply (and therefore the availability) of the good has decreased. This is because as the Chinese government wants to contain the spread of the disease, it stopped “travel and work.” As a result, many factories have shut down, including those producing hockey sticks to the NHL.
If you’re writing a Microeconomics Internal Assessment on this topic, make sure to show how the supply curve shifts leftwards. Also, don’t forget to show the resulting shortage at the original equilibrium price.
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