What differences or similarities do you see between your posting and other classmates’ postings?

esponses to Other Students: Respond to at least 2 of your fellow classmates with at least a 50–100-word reply about their Primary Response regarding items you found to be compelling and enlightening. To help you with your discussion, please consider the following question:

 

  • What differences or similarities do you see between your posting and other classmates’ postings?
  • Christian Espinoza

  • The law of supply and demand affects everyone, from small businesses to large corporations; everyone sees the effects.
  • The law of supply states that if the prices go up, the supply will go up. Companies/stores want to make money, so they supply more to make more money if prices are high.

    The law of demand states that if prices go up, fewer customers are willing to buy it; if prices decrease, consumers want to buy more. A perfect example of this is the pandemic. Many people started bulk buying, and companies raised their prices so they could make money from this demand. Another excellent example is gas; when the pandemic was in full effect, fewer people were driving, the need for gas was minium, and the gas price went down. As things started to come back to normal and people began to move again, the demand increased, and prices began to go up again. When it comes to families, this hit hard in our pockets while we shopped for groceries. Suppliers had to slow down, making it hard to supply stores; due to the demand, prices rose, and some things made it hard to afford.

    An Equilibrium price is the market price that a consumer pays for its items. Market equilibrium price and quantity are determined by reaching a point where the buyer and the seller agree on the price; when the supply and demand curve meets, it’s called the equilibrium point. At equilibrium, an exchange has been made between producers and consumeer.

    • Veronica Logan

      Equilibrium is where the amount of the good or service that consumers want to buy  is equal to the amount the that producers want to sell.When there is a balance between supply and demand.So producers are willing to produce strawberries and consumers are willing to pay 3 there will be a demand in strawberries that is where the balance lies.The law of supply and demand impacts our lives on a daily basis, the pandemic really made supply for the things we need very scarce because people were anxious about what was needed to get through that horrible time. Toilet paper,hand sanitizer among Lysol spray went quickly to fight the germs and bacteria that covid 19 had brought about. Fear will cause people to do crazy things , one is to buy excessively so when that happens the supply ran out quickly the demand was a top priority for the stores. Some stores could not keep supplies because of excessive buyers so some people ordered online but that demand was over the roof as well. Myself went to store after store and could not find hardly anything. So now today those items that was hurried off the selves are in supply today.

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more