Assignment Details – 200-word minimum
Make sure you use economic concepts in your main contribution.
Think of items that you have purchased in a market:
- Big ticket items like a house, or an apartment rental, or a car;
- Or ordinary items in your weekly budget, like coffee, tea, gasoline, bread, Milk, etc.
You can consider some of the following questions in your contribution.
- What price trends have you noticed over the last few years? Do the prices fluctuate? Have prices increased or decreased?
- How would you use what you have learned concerning Supply and Demand to explain these trends?
- Have there ever been any shortages or surpluses? How would you explain that?
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