Reference no: EM133071318

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 Chicago Tribune about coffee prices.

Briefly tell us what your article is about.

My article reported that although coffee prices are high, the price being paid to the coffee producers in Brazil has remained constant.

Which aspect of the article's discussion affects your daily life?

Coffee growers are threatening to cut production in order to force the prices higher. This means that my $6 cup of coffee at Starbucks could become even more expensive.

What factors do you think are influencing the supply and demand of the product/good/service that is the subject of your article?

Americans have been conditioned by marketing to agree to pay $5 for a cup of coffee, so there is no reason for retailers to charge less.