ECO 205 industry_research_completion

Apr 9th, 2015
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Hi there.This document contains A+ work for the course ECO 205.I am sure that this work will not disappoint you.This document will give you the correct answers to the respective questions about the particular course.

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Running head: INDUSTRY RESEARCH COMPLETIONIndustry Research CompletionStudent NameCollege NameIndustry Research CompletionThe economy all over the world has suffered a great set back; small business owners, large corporations, and even the international markets have felt this. Due to the problems with the economy people are holding on to their money and not buying unnecessary goods. Those items that are considered luxuries are more prone to not being purchased compared to those that are considered necessities. The industry that I will be discussing falls in the category of a necessity and not a luxury. The dairies that are in the United States are among many located around the world that supply us with milk. From this product other companies turn it into other items such as ice cream, cheese, yogurt, creams and many other products. Through my research it has become evident that the supply and demand curve goes to the left.As we all know milk is a product that cannot be substituted by any other product, since milk is derived from cows and sheep the only way to produce it is through those animals. Due to this the price of a gallon of milk is considered inelastic and will probably never change. Since the production of this good is below the national demand due to our population growth the price can increase but the demand will always be there. One other reason why the price of this good has no real effect on the consumer is the fact that our government has impleme

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