Supply and demand applications exist everywhere. You will find examples of the supply and demand applications listed in the “Supplemental Material” Section. After you review those, find an article that demonstrates a change in supply and/or demand. Once you completed that portion of the assignment, read at least one article in the “In the News” Section. These articles demonstrate the availability of public goods across the globe as well as dilemmas presented due to the scarcity of resources to provide public goods. Think about what you studied in Chapter 4 and what should be considered public goods or not as you prepare to write your discussion post.
Part I: Find an article that discusses and event that change (shift) supply and/or demand changes for a particular product. In your submission discuss the factor(s) mentioned in your article, and correctly describe the impact on supply and/or demand. Discuss the overall impact of price and quantity in response to the change in supply and/or demand. Why is this article relevant to you? Correctly utilize APA documentation with the URL (minimum of 8 sentences).
Part II: Discuss the current provision of public goods in the US. Should more public goods be provided? Why or why not? Strengthen the content in your opinion by referencing an article in the “In the News Section” of the Week 3 content ( In the News: Week 3 ), or you can find your own article about public goods (minimum of 6 sentences). Proper APA documentation should be utilized for this portion of the post.
Part III (you must respond to two different students for this section):
- Respond to one of your classmates’ post with regards to their Part I submission. In your response, you need to state how the changes in supply/demand of the good/service personally impact you (minimum of 5 sentences).
- Respond to one of your classmates’ post regarding their Part II post. In your response focus on your opinion of the information presented in their post. Strengthen your argument with information from reputable articles/research. Also include proper APA documentation with URL (minimum of 7 sentences).
*Note: Only the first submission will be scored. Please include APA documentation.