ECO100 Week 2 Discussion 1 and Discussion 2

ECO100 Week 2 Discussion 1

"Demand and Supply" Please respond to the following:

Discuss one recent price change that you have noticed while visiting your local supermarket.  Determine whether or not the price change that you identified was a result of a change in either supply or demand.

Based on your response to the first part of this discussion, identify what may have caused the shift in either supply or demand.

ECO100 Week 2 Discussion 2

"Elasticity" Please responds to the following:

Identify two elastic and two inelastic goods that you have purchased in the last month.

Using the determinants of elasticity, explain why each good you selected is elastic or inelastic.