Post a total of 3 substantive responses. This includes your initial post and 2 replies to classmates or your faculty member.
Respond to the following in a minimum of 175 words:
How has the supply and demand of a specific product affected your/your family’s purchasing decisions?
What variables most affect your decision to either buy or not buy a good or service?
Post 2 replies to classmates or your faculty member. Be constructive and professional.
Student 1
Well, Since Covid hit our state back in February every where has been out of the necessary supplies a household needs to survive. I mean no toilet paper, paper towels, Kleenex, dish soap, laundry soap, hand sanitizer, etc. I could not even find generic brands and every store I went to was out of stock and did not know when they would get more in. I would go every day just to check. People were buying more than what they needed driving the prices up and the demand for the products was through the roof. The suppliers could not even keep up with the demand and still are having trouble keeping the shelves stocked.
When I go shopping I try to look at all the shopping flyers to see who has what on sale in order to make my money go farther. I buy in bulk when I can. I buy my limit and if I have to I have two transactions in order to get the supplies I need for my home and family. If I do not do it this way, I would never find what I need until months later and by that time the price would be doubled, off sale with ( no rain check), and my coupon would be expired. I try to get the bigger amounts or products that have extra products in them for a few cents more or the bigger package because it will last us longer and I will not have to shop for that item sooner and if I need it sooner, then I can usually find what I am looking for a month or so later.
I try not to buy things that are not on my list or that I do not have a coupon for. I make sure it is something that we need and not a want. I try to picture when we would use it or not use the item. I do not buy what we will not eat or use. I have a budget each month and I have to stick to that budget cause if I go over then I have less money for something else that is more important that my family may need.
Student 2
As the Covid-19 pandemic is disrupting economies across the globe, a lot of people are struggling to buy what they usually buy on a month to month basis. Supply and demand has affected my family in a huge way when Covid 19 first started, when we used to go to the store to buy our monthly groceries we went from spending 200-250 dollars back in 2019 to 350-400 dollars during the pandemic of 2020. We are not the only one who have had this problem, is everyone around the world. With high demand on certain products a lot of companies and stores are taking advantage of this pandemic to increase their prices because they know that the demand is high. When it comes to toilet papers and bounty paper towels a lot are stock with using the bad materials product due too a lot of people deciding to buy them all. Some of these people either keep them or re-sell them for a higher price.
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