Economists use supply and demand to explain markets. For this discussion, I want you to think of examples of supply and demand in your everyday life. Think of your favorite product that you consistently consume and how that can be impacted by shift factors.

Directions

Think ofa relevantexample in your own life of how a change in the market (including information, preferences, technology, price of alternative goods, regulations, taxes, etc.) has shifted either the supply or demand of a good. How did this change affect the market equilibrium for that good or service? Explain.

Next, find a relatively recent news article (within the past year) to support your finding (the news search feature in Google is helpful with this). If you cannot find an article specific to your example, you may find an article about another similar good or service. Summarize the article and its findings, then include the URL in your discussion post.