This discussion board addresses the interaction among price, demand, and supply in how markets work. After reading the material in the chapters for this Unit please address the following in a presentation with an accompanying graph.
- A hurricane in South Carolina damages the cotton crop.
- The price of sweaters falls.
- All colleges require morning exercise in appropriate attire including sweatshirts.
- New sweatshirt knitting machines are invented by the manufacturer.
Each original post should include an explanation for each with four diagrams to emphasize the explanation. Respond and engage with at least two of your classmates.
NOTE: diagrams can be created using an Office product such as Word or Excel or PowerPoint, or drawn by hand and submitted as an image or some other product of the student’s choice.
It is most important to explain the underlying reasons why the cause and effect. Your focus is on the market for sweatshirts, not sweaters or knitting machines. What is the impact on the sweatshirt market?