Discussion posts about circular flow diagrams and supply and demand, economics homework help
Below are the directions for two discussion posts; they both need to be completed. This is not a paper and does not need to be in a specific format or word count. Any references should be according to APA guidelines.
Circular Flow Diagram
Explain how the circular flow diagram relates to the current economic situation. Using the circular flow diagram, explain a way that your family interacts in the factor market and a way that it interacts in the products market.
Supply and Demand
Analyze how the law of demand applies to a recent purchase that you made. Describe how the product has changed in price and explain whether the price change is due to supply or demand. Did the change in price affect your decision to purchase the item?