ECO 372 Week 2 Product Purchases and the Economy

*************************************
ECO 372 Entire Course Link
https://uopcourses.com/category/eco-372/
*************************************
ECO
372 Week 2 Product Purchases and the Economy


 

You've been
debating on making a purchase for yourself.  This is a product you've
wanted for a while, but one that requires budgeting because you will be making
monthly payments. 

Select a product in which the demand for the
product is clearly affected by the strength or weakness of the overall economy
such as new homes, cars, appliances, smart phones, etc.

Write a 1,050- to 1,400-word paper in
which you address the following: 


  • Identify and define two economic indicators
    that reflect the strength of the economy (e.g. real GDP, unemployment
    rate, inflation rate, interest rate, housing starts, etc.).

  • With these economic indicators in mind, how has the
    economy affected the demand for and supply of your selected product over
    the last 2 years?

  • What was the impact on the supply of the product and
    the impact on the demand for the product?

  • Explain the impact on the price of the product
    and your decision on whether or not to buy the product. 

  • Include responses to the following: 


    • How might you apply what you learned about
      supply and demand to your work place or your understanding of the product
      you are considering purchasing?

    • How do the concepts of macroeconomics help you
      understand the factors that affect shifts in supply and demand on the
      price of the product? 




Cite a minimum of three peer-reviewed sources
not including your textbook. 

Click the Assignment Files tab to submit your
assignment.
Powered by