Microeconomics

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 …

…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.