Microeconomics Demand and Supply Discussion

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zvpuryyyyyr

Economics

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read an article and make at least one initial comment about the issue discussed

specific instructions are in the attachment

One page or one and a half page

No outside resources, personal thought

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Step 1 This week's topic of the Discussion Forum is Demand and Supply. Please read this article http://www.cbsnews.com/news/global-demand-for-water-set-to-exceed-supply/ Make at least one initial comment about the issue discussed. You can go beyond the problem of the water shortage and bring other articles to extend the area of discussion. Be sure to write in complete sentences. Your post should be a minimum of one page long. Check for spelling and grammar. Step 2 After you have submitted your post, read your classmates' submissions. Respond to two or more classmates' posts with a question, resource or comment that will extend the conversation. A response such as "I agree" or "I like your post" is not substantive and will not receive credit. Below is the classmate’s discussion, please choose two of them to reply. 1. I think for most of us we take our access to clean water for granted. Most of us are able to take a nice long hot shower on a cold winter's day. I know sometimes when I brush my teeth I leave the water running when I really do not need to. Like the article states, when I am thirsty I am able to reach for cold clean water. In many countries people have to travel long distances for clean water. Restricted access to water goes on to affect our food supply when crops cannot be fed, among other things. The statistic from the article that only 2.5% of the earth's water supply is fresh water is quite alarming. As the population grows the water sources do not. As we consume more and more the supply does not increase. I cannot imagine living without the comforts of having clean water as I have my whole life. As our demand for certain things increases our reliance on water does too which paints a picture of supply and demand. Recently with the pandemic we have seen demand for things like toilet paper and wipes surpasses the supply. Production and the supply chain could not keep up to ensure our store shelves were stocked adequately. Our market is driven by demand and as consumers we do not necessarily think about the origin of the items we use and the affect our usage has on the planet. 2. Upon reading the article, it is quite terrifying to think of the progress (or lack thereof) that we have made since 2014. Even while we are facing detrimental impacts on the environment as we speak, we as a society still continue to neglect to realize the direct impact that we have on issues such as water scarcity. A quote from the article that stands out to me is "We have treated it as if it were a free resource, as if it were a superabundant resource." As we can now see among this pandemic, resources can be hard to come by. Our demand for essential products, such as food and water, has significantly surpassed our supply of it. The issue of water scarcity reminds me of the butterfly effect, where one change can create other drastic changes. With water scarcity, the article mentions its impact on the agricultural industry. Without our use of water as a resource, many other products that we use would be harder to come by, in turn, creating a domino effect of problems. As consumers, we must realize that not only is it our job to help drive the economic cycle, but we must be mindful of our use of resources. 3. After reading the article, I do believe many people especially those who've lived very comfortable lives never properly understood the luxury of our access to water. By no means am I pointing out that my generation or even previous are ignorant to this blessing. Rather, I believe we've never properly been pointed and educated on not only what goes in to clean water sources, but also its ability to be so accessible. With the United States being the main example, majority of areas of complete easy access to clean with plumbing, grocery stores, restaurants, etc. It's never been a concern for anyone really unless one really sits down and thinks about it. Water as a resource while isn't finite due to the earth being majority water, doesn't mean that we should ignore this issue till the problem of clean water becomes imminent. We need to not only pay attention to our own water usage, but also keep in mind that in the position we are currently in. Most of us don't take the thought that clean water is a luxury. 4. After reading the article, I feel that many people take the usage of water for granted. Often people overuse water by applying it to their lawns or taking extra long showers. The supply of water is finite, but the way that many people demand it would assume otherwise. It seems similar to other environmental issues; it is rarely discussed and many people seem to think it would not effect them in their lifetime, and therefore it does not occur to them that they should act more conservatively. I sincerely hope that I do not encounter this issue, but with all that has been going on in the world and America as of recent, it would not surprise me if water shortage became a more pertinent issue soon. 5. After reading the article it mentions how the United States water supply is decreasing and we could have a scarcity soon. There are many other countries that already have a huge water supply issue like developing countries that are most at risk. One of the countries most at risk is India which in part is due to their population being the second largest in the world. This puts stress on the water supply and in turn their water have been contaminated with bio and chemical pollutants. Overall until the climate change problems have been solved or gotten better there will be more and more shortages then just water as well as damages to the earth. https://thewaterproject.org/water-crisis/water-in-crisis-india 6. After reading that article my eyes really opened. I always had knowledge of other countries with drinking water issues but to think the whole world could be in trouble in a very short amount of time (10 years) scares me. The things I hear like the harmful environmental changes in the world and the crazy people I see on the news every day makes me skeptical to even want to start a family of my own in this crazy world. I think that rather than worrying about the little things like petty politics and things that are not as important, the leaders of this world and this country should make a bigger deal of these problems and prepare for the future. To come out with something to help or slow down this problem is what the people need. That being said, If this was all over the news every day we would have a water shortage in ten years people would be going crazy and take their irrational buying decisions to clear the shelves of bottled water, and supplies to save themselves. Just as they did with toilet paper during the corona virus pandemic. This article I linked below is interesting and kind of related to this topic. It talks about the top cities and states with terrible and unclean drinking water. I believe some of this drinking water chemicals can lead to health complications later in life. https://www.businessinsider.com/cities-worst-tap-water-us-2019-3 7. This week’s topic is on Supply and Demand. The article talks about the issues of a water shortage in the world and how high of a demand there is for water. Americans are using more water than they should which is causing a shortage. The demand is much higher than the supply. This also causes the price of water to increase. If the amount of water that is being used were to decrease, the demand would decrease, and the supply would increase. This would allow the price to decrease. It is all balance, if one increases, the other will decrease.
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Running head: DISCUSSION- DEMAND AND SUPPLY

Discussion- Demand and Supply
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DISCUSSION- DEMAND AND SUPPLY
Discussion- Demand and Supply
The factors play out when applying the economics of demand and supply affects us all.
Every individual should understand how water can interrupt our normal living. As the major
driver of our economies, there is bound to changes that can affect everybody. Every action taken
can help prevent the problems that may occur in the future due to water shortages.
I realize that different geolocations have different ways of getting water but the changes
that have taken place seem to have a negative global effect. The way people from all over the
world get water affects all aspects of their lives and the level of interruption in their day to day
lives comes with its repercussions. Looking into the whole concept, I believe not having
sufficient resources such as water which is part of the human basic needs; the limitations
increase and more problems emerge within the society.
It is without a doubt that an increase in population, the demand for water will increase
and the possibility of an outcry to the governments is inevitable. A key fact is that freshwater is
not as abundant as salty water in the world but it can be used in such a way t...


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