ECO 372 Week 2 Individual Assignment Product Purchases and the Economy NEW

1
UOP ECO 372 Week 2 Individual Assignment Product
Purchases and the Economy NEW Check this A
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ECO 372 Week 2 Individual Assignment Product
Purchases and the Economy NEW 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. 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.
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Write a 1,050- to 1,400-word paper in which you
address the following 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 o How might you apply
what you learned about supply and www.eco372entire
course.com demand to your work place or your
understanding of the product you are considering
purchasing? o 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. Click the Assignment Files tab to
submit your assignment.