This discussion is designed to see if you can apply economics to real-life situations.  Please use your own personal experiences to answer the following discussion questions.  If you do not have personal experiences, you can share examples of your family and/or friends.  This will show that you are able to make connections between what you learn in this class and what you encounter in the real world.

Now it is time to reflect on what you’ve learned in Module 02 and apply them in your daily lives.

Your participation in this Discussion demonstrates the following learning objectives:

• Discuss where does the law of demand apply and why.
• Discuss where does the law of supply apply and why.

What to do:

After reading the demand and supply chapters, share with us what happened to the Law of Demand and the Law of Supply during the COVID 19 pandemic.

Please use specific examples in your discussion post, such as N95 masks, at-home COVID test kits, gasoline, etc. to answer the following questions:

1. In your opinion, did the laws of demand and supply work or not during the COVID-19 pandemic?  Why?  Explain your answer in term of economics.
2. Select one specific good or service where you believe these laws worked. Please explain why and share your own experiences.  Explain your answer in term of economics.
3. Select one specific good or service where you believe these laws did not work. Please explain why and share your own experiences.  Explain your answer in term of economics.

Discussion Directions:

Your original post must be no less than 120 words and your replies must be no less than 50 words.  For full points, your original posts and replies to your peers should be insightful and add value to the discussion.  Questions from the discussion assignment cannot be counted as part of the 120 words. 

Students’ names and greetings cannot be counted as part of the 50 words in your reply and the 120 words in your discussion post.  Plagiarism will result in a zero grade.

After you type your initial post by Wednesday evening at 11:59 pm Pacific Time, then read through the other entries and reply directly to at least one classmate by Sunday evening at 11:59 pm Pacific Time. Note, you must post your answers before you can see any other replies.

When you reply, ALWAYS type the name of the classmate you are responding to, and your name at the bottom of the message.

Make sure to use proper grammar and punctuation in this college level course in all correspondence. Please avoid text or twitter speak when corresponding.

For detailed information about discussion policies, please see Online Class Discussions in Course Syllabus Module.

Due Dates:

Post by Wednesday evening, March 2, 2022, at 11:59 pm Pacific Time
Respond to at least one classmate by Sunday evening, March 6, 2022, at 11:59 pm Pacific Time

NEED ASSIGNMENT HELP?

We guarantee plagiarism-free and AI-free writing services. Every assignment is crafted with originality, precision, and care to meet your academic needs.

Ready to get started? Place your order directly on this post!

Let us help you achieve excellence—authentic work, every time.