Prepare a report on market equilibrium.

When will disequilibrium arise and what

are the possible scenarios where shortages and surplus arise?
Procedures:
1. Define market equilibrium.
2. Create a market equilibrium curve/graph. 
3. Cite a scenario/situation that can cause shortage then create a
     market disequilibrium showing the no. of shortage quantity .
4.  Cite a scenario/situation that can cause surplus then create a
     market disequilibrium showing the no. of surplus quantity .
shortage when supplied is less to demand S<D D>S
surplus if supplied is greater than demand S>D D<S
more available than consumers are willing to purchase

1. Market Equilibrium is a state which implies a balance between the opposing

forces, a situation in which quantity demanded and quantity supplied are equal.
2.

Surplus
imagine that the economy slows down so that many people lose their jobs or work
fewer hours, reducing their incomes. In this case, the decrease in income would lead
to a lower quantity of cars demanded
When a price ceiling is set below the equilibrium price, quantity demanded will exceed
quantity supplied, and excess demand or shortages will result.

Shortage
Automakers are scrambling to find parts and prevent shortages in their supply
chains as the spread of the coronavirus rattles markets and threatens to roil
manufacturing processes globally.
SEOUL -- Hyundai Motor said it will suspend production in South Korea, its
biggest manufacturing base, becoming the first major automaker to do so
outside of China due to disruption in the supply of parts resulting from the
coronavirus outbreak.