ECO100 ECO 100 week 2 discussions DQs (Graded A+) - 52817

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ECO100

WEEK 2 discussions

"Demand and Supply" Please respond to the following:

·         Discuss one recent price change that you have noticed while visiting your local supermarket.  Determine whether or not the price change that you identified was a result of a change in either supply or demand.

 

·         Based on your response to the first part of this discussion, identify what may have caused the shift in either supply or demand.


"Elasticity" Please respond to the following:

·         Identify two elastic and two inelastic goods that you have purchased in the last month.

 

·         Using the determinants of elasticity, explain why each good you selected is elastic or inelastic.

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A++++++++++

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