01 May Question: Think of a situation when you paid for something that was grossly overpriced. Analyze the purchas…
- Think of a situation when you paid for something that was grossly overpriced. Analyze the purchase’s price and quantity using the concepts you learned in this module. Why did you buy something you knew was less expensive elsewhere? Do you ever feel as though sellers take advantage of people? Explain.
- Now think of a situation when you found something at a bargain price, and analyze the purchase price and quantity using the concepts you learned in this module. Did you buy all that the store had? Why or why not?
- Having learned the concepts in this module, how will the forces of supply and demand change your future buying habits?
- Do you believe laws should be enacted to prevent sellers from using the forces of supply and demand to take advantage of people’s need for their products? Why or why not?
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