The US experienced a used car shortage in the spring and summer of 2021, causing the prices of used cars to sky-rocket. Many people were selling used cars to dealerships for thousands more than they could have months before.

1. Which inventory method would a car dealership use for tracking the purchase of a used car and why?
2. What factors are causing the shortage of used cars? Cite your sources.
3. Discuss whether you think the used car boom will last or will bust in the near future. Cite reasons for your opinion.