Product Purchases and the Economy

Oct 23rd, 2015
HelloWorld
Category:
Business & Finance
Price: $20 USD

Question description

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.

NO PLAGERISM

Tutor Answer

(Top Tutor) Daniel C.
(997)
School: UCLA
PREMIUM TUTOR

Studypool has helped 1,244,100 students

8 Reviews


Summary
Quality
Communication
On Time
Value
Five Star Tutor
Dec 5th, 2016
" Outstanding Job!!!! "
kpcutie
Nov 21st, 2016
" Excellent job "
Joemoe
Nov 12th, 2016
" <3 it, thanks for saving me time. "
Hemapathy
Nov 8th, 2016
" all I can say is wow very fast work, great work thanks "
pmallory
Oct 30th, 2016
" Totally impressed with results!! :-) "
kevin12622
Oct 16th, 2016
" Goes above and beyond expectations ! "
kiln82
Oct 7th, 2016
" awesome work thanks "
likeplum4
Sep 24th, 2016
" Excellent work as usual "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1819 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors