Economics
Price Elasticity of Demand & Supply and Economic Fairness Discussion

Question Description

Need help with my Economics question - I’m studying for my class.

Everything in the file, you can check all work in the file. if you have any question please tell me.

Student has agreed that all tutoring, explanations, and answers provided by the tutor will be used to help in the learning process and in accordance with Studypool's honor code & terms of service.

Final Answer

Please let me know if you need anything to be changed or added I will be happy to carry any changes, just leave me a message and will get back to you as soon as I can Bye for now, but will be here if you need any further help

demand and supply
by HAL Lab

Submission date: 29-Mar-2020 08:16AM (UTC-0400)
Submission ID: 1284352457
File name: Hand_sanitizers_issue.docx (19.76K)
Word count: 1455
Character count: 7171

demand and supply
ORIGINALITY REPORT

2

%

SIMILARITY INDEX

1%

0%

2%

INTERNET SOURCES

PUBLICATIONS

STUDENT PAPERS

PRIMARY SOURCES

1

Submitted to Colorado Technical University
Online
Student Paper

Exclude quotes

Off

Exclude bibliography

On

Exclude matches

Off

2%


Running Head: DEMAND AND SUPPLY

1

Demand and Supply
Name
Course
Date

2

DEMAND AND SUPPLY
Hand sanitizers issue
Introduction
Understanding the market is one of the problems that help the traders to learn more about
the provision of important requirements in the market. For a trader to ensure that there is a stable
relationship between the involved organization or the trader in question and the members of the
market, they need to ensure that they have adequate information regarding the trends in the
market in the attempt of providing the required items that may meet their needs (Dhingra, 2020).
Several approaches can help in the assessment of the current needs in the market as well as the
overall creation of opportunities that may meet the requirements in the general market. Assessing
the areas in a product that may need more attention does not only help in the improvement of the
reliability of the product but also in ensuring that high-level products are in a position to meet the
challenges that they may face. Understanding the factors that may affect the price and the
demand that people may have towards a given product is a significant issue that assists in the
overall improvement in the knowledge that may assist in improving the approaches that are used
in solving some of the problems in relation to marketing (Dhingra, 2020). Over the recent past,
the Covid-19 pandemic that has created tension over the globe has called for the application of
high-level strategies that can allow the general community to manage it easily. Among the
confirmed approaches that can help in the management of this pandemic is the maintenance of
hygiene and ensuring that people can use hand sanitizers to improve their hygiene.
Case analysis
Traders and hawkers all over the world have taken this opportunity to increase their
income by engaging in the sale of hand sanitizers and related products that can help in the

3

DEMAND AND SUPPLY
management of this issue. the above was as a result of the need to respond to the increased
demand for hand sanitizers that would assist in the management of the high rate at which this
pandemic spreads. Additionally, the traders had information regarding some of the responses that
the market would have if they were given an assurance of the effectiveness of the products in the
reduction of the rate at which this condition spreads (Tiffany, 2020). The demand of the hand
sanitizers has changed and drastically improved over the recent past since the discovery of this
condition. The price at which the traders offered the hand sanitizers had a significant
contribution towards the high rate at which the demand for the product went high. The rate at
which the message of the pandemic spread resulted in more people rushing towards the purchase
of the hand sanitizers.
There increase in the demand of the hand sanitizers had more impact on the sale as well
as the overall supply of the product. When the traders realized that this commodity was on high
demand, most of them took the opportunity to engage in this trade. There are some traders who
shifted from third original products that they offered and started participating in the sale of hand
sanitizers in order to take advantage of the ...

Robert__F (47053)
Carnegie Mellon University

Anonymous
Thanks for the help.

Anonymous
Outstanding. Studypool always delivers quality work.

Anonymous
Tutor was very helpful and took the time to explain concepts to me. Very responsive, managed to get replies within the hour.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4