1. What product or occupation have you chosen and how has its price changedfor instance, by how much and over what time period? Your response here should clearly explain the product, by how much its price has changed, and over what time period.
2. What has been the impact of this price change on individuals and on society as a whole? That is, who has benefited and who has been hurt, and how do yourself own values or the values of others affect the interpretation of this impact? Your response here should address diversity of human experience in relation to the product and the impact of the price change. Before writing your response, you may want to ask yourself: How does this product and its changing price help us to understand the way people are interconnectedeconomically, historically, and socially? How are different groups of people affected differently by this price changewho gains and who loses?
3. What is/are the most important direct cause or causes of this price change? Your response here should include at least one (and potentially all three) of the following categories: Demand-side explanations: for example, changes in income and preferences among buyers of the product, or changes in the availability or price of substitutes for the product. Supply-side explanations: for example, price competition or lack thereof, investments and changes in the markup (corporate levy), or technological improvements. Governance explanations: for example, taxes and subsidies, government regulations and law, changes in market and corporate governance norms.