Question
Reply to this classmate's post. State the topic. Why is a discussion about this topic important and of interest to us? Research the topic briefly.
Reply to this classmate's post. State the topic. Why is a discussion about this topic important and of interest to us? Research the topic briefly. Add another example to this discussion. Citeyour research sources.
I think for demand a good falling out of/ being in style would be the most influential. I think this because it is the most relevant or at least easily observed out of all of these factors the book describes in real life. Seeing this happen in real life such as in back-to-school sales where sales of school-related products can increase drastically for a few months, then during the school season drop drastically. This example could also be applied to many other factors such as a belief the price in the future will increase once school starts, the number of buyers lowering once school starts, and more specific school supplies being compliments and supplements of each other. Although I think something falling out of or going into style is the most overarching factor in all of this and many other examples so it becomes the most influential in my eyes. In terms of supply, I feel the most influential factor is the cost of inputs changing. I think this is the most influential simply because of how unexpectedly the cost of inputs can change due to any number of political issues worldwide. An example of this would be the changes in the minimum wage as more and more companies have to increase their base pay to their employee's menu items and will have to change prices.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started