Choose a product that you think illustrates the principles of supply and demand. It could be something like a Lamborghini that has a very limited supply and a great demand that makes it expensive. Or it could be something like a calculator that used to be very expensive but has become cheap because of trends in technology.
Give a brief overview of the company that makes the product. If the product is made by multiple companies, just choose one of them.
- What does the company make?
- What value does this product provide to consumers? Why do they buy it?
- Explain how the product can illustrate the law of supply and demand.
- Which of the following six external forces in the readings do you think most affects the balance of supply and demand? Describe the effect it has. (For example, the technological environment made the chips in calculators cheap, and the low price increased demand.)
- Economic environment
- Legal environment
- Competitive environment
- Technological environment
- Social environment
- Global environment
How to Do Well in Discussions
- Make your initial post responding to the above questions by Saturday, and comment on at least four of your classmates’ posts by Tuesday. Posting late may lose you points.
- Respond to the specific questions posed in the discussion.
- Be sure to base your initial post and responses on course materials, and use 7th ed. APA citations in every post.
- Post your responses over three days and respond to four or more students to receive full credit for frequency of participation.
- Write clearly and proofread; errors can lose you points.
- Quality of posts, citations, frequency, and timeliness of posts all factor into your discussion grade. See the Participation Grading Rubric for details…
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