Pointed at one local market, the Week 2 model application for ECON 1002 predicts how price and quantity move after a named change and lists the conditions that prediction needs. Searches like "econ 1002 week 2 assignment example", "econ1002 week 2 sample" and "econ 1002 week 2 example" land here.
What a finished ECON 1002 Week 2 model application looks like
About two pages long, the application opens with the market defined narrowly: secondhand commuter bicycles sold between residents of one town, through classified listings and a single refurbishing shop. A labeled supply and demand diagram follows, with the starting equilibrium marked at an illustrative $150 and forty sales a week. The change comes next. Newcomers arrive for the fall term, and demand shifts right while supply barely moves, since few current owners sell in August. The paper predicts a higher price and more bicycles changing hands, then adds a sentence explaining why quantity rises by less than demand did. Marshall's scissors appear in one paragraph arguing that neither curve alone sets the price. A short list closes the paper, naming three conditions the prediction depends on.
How a ECON 1002 Week 2 example is structured
The market's boundary comes before any curve because a supply and demand diagram only means something for a defined good in a defined place; lumping new and used bicycles together would blur both. The diagram appears early, carrying the starting point only, so the reader sees the before state without the answer drawn in. Only then does the change arrive, described as something that happened in town before anyone calls it a shift, and the paper decides in the text which curve it moves and why the other stays put. The prediction follows in words first and on the diagram second. Marshall is placed after the prediction, where his point about two blades explains a result the reader has just watched happen. The conditions list closes the paper because each item is a place the prediction could fail, and naming them is the week's second graded task.
A market with edges
Secondhand commuter bicycles, sold between residents of one town, define the good; new bicycles and bike-share are set outside the boundary on purpose.
The before picture
The diagram's first version shows only the starting equilibrium at an illustrative $150 and forty weekly sales, so the change has something to move away from.
An arrival, not yet a shift
Newcomers for the fall term are described as an event first; the paper then argues that the event moves demand while supply stays roughly where it was.
Both blades of the scissors
Marshall's image explains why the new price depends on how steeply supply rises, not on the demand shift alone.
Three conditions for the prediction
Stable prices for new bicycles, no change in theft rates and no sudden wave of sellers are named as what the result assumes.
Where marks go in ECON 1002 Week 2
Choosing which curve moves is where the application wins or loses most of its credit. Newcomers wanting bicycles is a demand event; a paper that shifts supply because more listings appear has mistaken the response for the cause, and graders follow that error through every later sentence. After that, credit rewards a prediction stated as a direction for both price and quantity, since half a prediction reads as a guess. Diagrams lose points for unlabeled axes and for a new equilibrium drawn without the old one visible. Marshall's image pays off only if it explains something about this market; quoted as decoration, he adds a line to the references and nothing to the analysis. The conditions list is often thin, and three specific ones outscore a generic sentence about everything else staying equal.
Get a ECON 1002 Week 2 example written to your instructions
Name the market your section asks about, or the one you shop in, and send it with the prompt and rubric; the application is built on that market's own change; first one free, 24 to 48 hours. The college town and its bicycle listings are stand-ins, chosen to illustrate the model rather than observed anywhere.
ECON 1002 Week 2 questions, answered
Which market should I pick if the prompt leaves it open?
One you buy in often enough to describe, with a change you can name. Used goods, local services and seasonal items work well because a single event moves them visibly. The example uses secondhand bicycles at the start of a term. Markets too broad to define, such as housing in general, make it hard to say which curve moved, and that choice is where your grade tends to turn.
Do I need real prices for the diagram?
No. The course grades the direction and the reasoning, and the example's $150 starting price is a round illustration labeled as such. If you use prices from listings you have seen, say where they came from and treat them as a snapshot of one moment. Inventing precise figures and presenting them as data costs more than leaving the axis in general terms.
Why cite Marshall at all in a short paper?
Because his scissors image states the model's central claim in one line: price comes from supply and demand together, never from one side. The example uses it at the point where the new price depends on how the supply side responds. If your readings do not mention Marshall, the same idea can be stated without the name, and nothing else in the structure changes.