For theWeek 2 Critical Thinking Exercise, you willdiscuss and provide application of concepts of supply and demand by identifying two goods and two services you consume at the household or professional level.For each example, you will identify a demand-shifting factor (preferences, expectations, income) and a supply-shifting factor (entry/exist of a producer, cost of input, etc.) Based on each factor/scenario, please discuss the impacts to the equilibrium price and quantity further include actual reporting of the scenario relating impacts on the industry from the scenario-based adjustment from research.