Reference no: EM132360828

Question

Scenario

According to a recent article in Forbes Magazine, "The demand for additional battery life is so large Pokémon GO is already having an impact on the sales of external batteries and phone cases with extra battery capacity." Popular portable battery makers told Forbes that the sales of certain products have grown significantly, up to double or triple just in Pokémon GO's first week in the United States. On a less technological front, coffee prices are up by 13 percent due to increased demand, and the supply of Corvettes is not sufficient to meet the current demand. All of these statements come from headlines from the past three months, indicating that the laws of supply and demand impact everything from your phone to your car to MY coffee. This is the basis for our discussion this week!

For Discussion

• Choose an article on a topic (product/good/service) that affects your daily life. (For example, I found an article in the New York Times about the farmers in the Midwest.)
• Briefly tell us what your article is about and how it relates to supply and demand. (My article reported that U.S. farmers are dealing with the fallout from the trade war with China, the declining prices of soy beans, weather cycles and federal farm aid.)
• Which aspect of the article's discussion affects your daily life? Explain. (If farmers leave the business, we will not have enough food supply to sustain us. Also, with a lower supply, prices will be driven up.)
• What factors are influencing the supply and demand of the product/good/service that is the subject of your article? (Americans have always had an abundance of food at reasonable prices. If the weather is poor and the tariffs keep China from buying our soybean etc., then prices could rise enough that some people could not afford to feed their families.)
• Include the citation including the URL of the article, so your classmates can access it.

Please include references