Apply the concepts of supply and demand analysis concepts to a specific good or service you use in your everyday life.

1. Introduction 1a. Describe the good. What are its main characteristics?

1b. What are some of the substitutes and complements for this good?

1c. Indicate whether this good is a normal good or an inferior good. Explain the reasons for your choice.

2. Identify and describe the main nonprice factors that could cause an increase or decrease in the demand for this good or service.

3. Identity and describe the main nonprice factors that could cause an increase or decrease in the supply of this good or service.

4. Explain how a change in demand affects the equilibrium price and quantity of this good or service.

5. Explain how a change in supply affects the equilibrium price and quantity of this good or service.

6. What do you expect to happen to the demand for this good or service over the next five years? Explain why

7. What do you expect to happen to the supply of the good or service over the next five years? Explain why

8. Conclusion

You can NOT write about the following goods: toilet paper, face masks, hand sanitizers, tooth brushes/paste, Internet, cell phones, computers/laptops, and technology.

include 4-5 references