audio, video or power point. 1. Describe the concepts of purchasing power and real income while also providing a personal example for each. 2. Explain the substitution effect and how you have personally experienced this effect. 3. Describe price elasticity of demand while also providing a personal or local example. 4. Describe price elasticity of supply while also providing a personal or local example. Due Date Apr 17, 2022 11:59 PM