ECO 372 Week 2 Product Purchases and the Economy

Write a APA conforming 1,050- to 1,400-word paper in which you address the following:

• Select a product in which the demand for the product is clearly affected by the strength or weakness of the overall economy in one of these categories: Real Estate, Transportation, or Travel.

• Identify and define two economic indicators that reflect the strength of the economy (e.g. real GDP, unemployment rate, inflation rate, interest rate, and/or housing starts).

• 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? (Provide specific data and sources to confirm your notions)

  • 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:

  • How might you apply what you learned about supply and demand to your work place or your understanding of the       product you are considering purchasing?

  • 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.

  SupportingMaterial:Week 1 Khan Academy VideosProduct Purchases and the Economy Grading Guide