The Effects of Supply and Demand on Society Upon starting Microeconomics in the fall, I didn't have a clue as to what this class consisted of. Over the past 6 weeks I have learned a lot about how the economy works. Now I have a better understanding of the different factors that influence the supply and demand of a product. When I think of supply and demand, I think about popular gifts around Christmas time. During …
showed first 75 words of 550 total

showed last 75 words of 550 total
…the lower price, the demand for these energy drinks has gone up and people are going to buy more. The knowledge I have gained in this class has given me a better understanding of how consumers and producers make decisions. Now when buying a product, I realize how the price was determined, and why it fluctuates from day to day. This class has been very beneficial and I hope to learn more in the future.