Firms supply the services and goods that we as households demand. So what are people looking to buy?
1. Explain why do they select one product over another?
2. Can free markets really allocate scarce resources in such an uncontrolled and often chaotic marketplace?
3. Search the news for stories related to the supply and/or the demand for a product that you find interesting.
4. Perhaps something that you recently purchased or are considering for a future purchase. What's in the news and how can you use economic principles to become a better shopper?