Discussion:
You make many purchases in your day-to-day life. Select a specific good (excluding gasoline or cannabis) that you purchase for yourself or your family, and analyze the purchase of this good over time with respect to changes in your income.
• Have you continued to purchase the same good over time? Why?
• Do you now purchase a substitute good? Why?
• Does the good you selected require the purchase of a complementary good? If so, have you changed to a substitute good because of something about a complementary good that you did not like?
See the Lynda.com video, Shifts of the Demand Curve for more on factors that shift the demand curve."
500 words
Topic "How Markets Work?"
When we look at the issue of the ability of markets to function (hopefully well) what are some of the issues that factor into the fluctuation of markets, both on a domestic and global level? How does this affect us on a daily basis?
500 words