- Think of a relevant example in your own life of how a change in the market (including information, preferences, technology, price of alternative goods, regulations, taxes, etc.) has shifted either the supply or demand of a good. How did this change affect the market equilibrium for that good or service? Explain.
- Next, find a relatively recent news article (within the past year) to support your finding (the news search feature in Google is helpful with this). If you cannot find an article specific to your example, you may find an article about another similar good or service. Summarize the article and its findings, then include the URL in your discussion post.
- Repond to the fallowing person Alana The first thing that comes to mind would be covid and the shortage of test that we currently have. It seems impossible to put out enough test to match the amount of people in the world. Look at the bill Biden just tried to pass, requiring companies with 100 people or more to show proof of vaccination or be tested weekly. How can you do that when there arent enough test now? As of Thursday, that bill was shot down. Its worrying to see how this ill impact people in the future.
- Respond to fallowing person Jason 1. In recent memory, there is no better example of supply and demand then COVID-19. Whether it is toilet paper or coins there has been many shortages. This is not only the culmination of growing demand, but also lack of workers. Fast forward to today and prices for said items have incrementally increased with some shortages here and there. It begs to question a year from now or even two, how will things look?
.This article does a great job of putting the reader in an unbiased lens and also putting a lot of things into perspective. COVID-19 has left an indelible mark on the world as a whole. Moving forward things will never be quite the same as they used to be. Maybe that is a good thing but time will also tell. How some companies found success and others did not is something worth learning about.
Please respond to the questions in the form of a paragraph, making sure you use complete sentences and correct grammar and punctuation. Do not rewrite the questions in your response and there is no need to include the numbers. To receive full credit for this discussion, you must reply to at least two of your classmates.
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