Choose one good with which you have had experience purchasing:
New home
New car
Vacation to a theme park
Washing machine
Computer
College
Other
Write a 700- to 1,050-word paper explaining factors that affect supply and demand. Include the following:
Explain factors that could cause possible changes in supply and demand.
Determine at least two substitutes there may be for your product.
Determine at least two complements there may be for your product.
Explain how the necessity of your chosen good impacts price elasticity