Discussion Assignment: The Supply of New Products, Economics Assignment Homework Help

timer Asked: May 25th, 2016
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Question Description

It seems like there is never an end to the new products that come on the market! Every day you hear or see ads about new products and see new items lining store shelves.
Answer the following questions below:
1.What are some new products that you have seen businesses supply in recent months?
2.Have prices increased or decreased since the product or products have entered the marketplace?
3.Do you think these products are fads and will remain on store shelves a short time or do you think they are products you will see for a long time? Why or why not?
4.Is the supply of these products elastic or inelastic? Be sure to explain.

Tutor Answer

School: Cornell University

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The Supply of Products
1) There are quite a few products that have appeared, made a re-appearance, or made a
newly improved appearance in various stores. This includes online shopping venues
such as Amazon and Shopify, regular in person stores, and social media products for
sale. The following is a list of some of these new products that I have noticed: 1)
variations of the original Green Tea products by different manufacturers, (2) Matcha tea,
a spin-off, healthier version of green tea, (3) Detox Products through social media,
especially Instagram (4) Print-on-Demand through social media, (5) LED lights, (6)
Drones, (7) Adult Coloring Books, (8) Budweiser’s new America beer cans for the
summer Olympics, (9) Ghirardelli chocolate covered snacks, and (10) Sparkling Ice
Essence of Sparkling Water...

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