Discussion:
1) What is economics? What role does economics play in your personal and organization's decisions? Provide an example of the role of economics in a decision you have recently made either personally or been a part of in your place of employment. Note: Here, you need to apply the economic principles in the chapters we are reading this week. Read the assigned material before you answer this question. Do not simply discuss a purchase or other decision without applying the principles we are studying this week. Remember to use the correct economic terms to answer the question.
Cite the source(s) used to answer this question. Provide the source(s) below your response and apply APA guidelines for references.
2) What is the difference between a movement along and a shift of the demand curve? What is the effect on the equilibrium price and quantity that results from an increase in demand, supply, and both? Provide a general explanation for each instance, and then provide a real-world example.
Cite the source(s) used to answer this question. Provide the source(s) below your response and apply APA guidelines for references.