Economic indicators

economic indicators

You’ve been debating on making a purchase for yourself. This is a
product you’ve wanted for a while, but one that requires budgeting
because you will be making monthly payments.

economic indicators

Select a product in which the demand for the product is clearly
affected by the strength or weakness of the overall economy such as
new homes, cars, appliances, smart phones, etc.

Write a 1,050- to 1,400-word paper in which you address the following:

economic indicators

Identify and define two economic indicators that reflect the strength
of the economy (e.g. real GDP, unemployment rate, inflation rate,
interest rate, housing starts, etc.).

With these economic indicators in mind, how has the economy affected
the demand for and supply of your selected product over the last 2
years?

What was the impact on the supply of the product and the impact on the
demand for the product?

Explain the impact on the price of the product and your decision on
whether or not to buy the product.

Include responses to the following:

How might you apply what you learned about supply and demand to your
work place or your understanding of the product you are considering
purchasing?

How do the concepts of macroeconomics help you understand the factors
that affect shifts in supply and demand on the price of the product?

Cite a minimum of three peer-reviewed sources not including your textbook.

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