A/ ASSIGNMENT RECAP

• Write a 400-word report analyzing a specific agricultural product in the Vietnamese market.

Suggested Structure:

1. Introduction (Suggested 50 words)
2. Factors influencing supply and demand (Suggested 100 words)
3. Supply, demand, and equilibrium analysis (Suggested 100 words)
4. Price elasticity of demand (Suggested 100 words)
5. Conclusions and recommendation (Suggested 50 words)

B/ KEYWORD EXPLANATIONS

1. Demand

In microeconomics, demand refers to the quantity of a particular good or service that consumers are willing and able to purchase at different prices during a specific period.

2. Supply

In microeconomics, supply refers to the quantity of a specific good or service that producers are willing and able to offer for sale at different prices during a given period.

3. Equilibrium Status of Demand and Supply

In microeconomics, the equilibrium status of demand and supply is the point where demand intersects the supply at a specific price.

D/ DETAILED OUTLINE

1. Section 1: Introduction

Example: Sugar Cane Market

With centuries of cultivation history, Vietnam has become a leading global sugar cane producer, outputting over 18 million tons in 2020. The Mekong Delta drives production, generating 1% of GDP.

2. Section 2: Factors influencing supply and demand

• 4-5 next sentences: State both factors, here are several suggestions:

• Factor Identification: Identify and describe the key supply factor affecting the assigned agricultural product (e.g., technological advancements, weather conditions, government policies).

• Data Analysis: Analyze relevant data and statistics demonstrating the impact of the supply factor on the product's production.