{"id":14650,"date":"2022-04-07T22:34:40","date_gmt":"2022-04-07T22:34:40","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/?post_type=chapter&p=14650"},"modified":"2022-04-07T22:34:40","modified_gmt":"2022-04-07T22:34:40","slug":"module-2-discussion-supply-and-demand-in-your-life","status":"web-only","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/chapter\/module-2-discussion-supply-and-demand-in-your-life\/","title":{"raw":"Module 2 Discussion: Supply and Demand in Your Life","rendered":"Module 2 Discussion: Supply and Demand in Your Life"},"content":{"raw":"

General Discussion Instructions<\/h2>\r\nYou are required to post to this discussion THREE TIMES, on THREE DIFFERENT DAYS. Please refer to the Discussion Grading Rubric for details regarding how your performance will be assessed. NOTE: Please be certain to read the entire discussion assignment since in some cases there is more than one question you need to discuss, respond to, or address. Be sure that you have answered the entire question!\r\n

Post 1: Initial Post<\/h2>\r\nThis posting should be a minimum of one short paragraph and a maximum of two paragraphs. Word totals for this post should be in the 100\u2013200-word range. Whether you agree or disagree, explain why with supporting evidence and concepts from the readings or a related experience. Include a reference, link, or citation when appropriate.\r\n

Scenario<\/h3>\r\nAccording to a recent article in Forbes Magazine, \u201cThe demand for additional battery life is so large Pok\u00e9mon GO is already having an impact on the sales of external batteries and phone cases with extra battery capacity.\u201d Popular portable battery makers told Forbes that the sales of certain products have grown significantly, up to double or triple just in Pok\u00e9mon GO\u2019s first week in the United States. On a less technological front, coffee prices are up by 13 percent due to increased demand, and the supply of Corvettes is not sufficient to meet the current demand. All of these statements come from headlines from the past three months, indicating that the laws of supply and demand impact everything from your phone to your car to MY coffee. This is the basis for our discussion this week!\r\n

For Discussion<\/h3>\r\n
    \r\n \t
  1. Choose an article on a topic (product\/good\/service) that affects your daily life.\r\n
      \r\n \t
    1. For example, I found an article in the Chicago Tribune about coffee prices.<\/li>\r\n<\/ol>\r\n<\/li>\r\n \t
    2. Briefly tell us what your article is about.\r\n
        \r\n \t
      1. My article reported that coffee prices may rise in the next year due to a major crop loss in Brazil combined with the additional issues of the pandemic, logistics, and labor issues.<\/li>\r\n<\/ol>\r\n<\/li>\r\n \t
      2. Which aspect of the article\u2019s discussion affects your daily life?\r\n
          \r\n \t
        1. Coffee beans at the grocery store will likely see the largest increase in price and the price of coffee sold at coffee shops will likely rise as well.<\/li>\r\n<\/ol>\r\n<\/li>\r\n \t
        2. What factors do you think are influencing the supply and demand of the product\/good\/service that is the subject of your article?\r\n
            \r\n \t
          1. The crops in Brazil were damaged by both a drought and then two July frosts so supply is very limited and may not recover for a couple years. Meanwhile, demand for coffee is still strong and possibly increasing.<\/li>\r\n<\/ol>\r\n<\/li>\r\n \t
          2. Include the URL of the Web site where you found the article, so your classmates can access it.\r\n
              \r\n \t
            1. Why coffee could cost more at groceries, cafes<\/a><\/li>\r\n<\/ol>\r\n<\/li>\r\n<\/ol>\r\n

              Posts 2 and 3: Respond to Classmates\u2019 Posts<\/h2>\r\n

              Instructions<\/h3>\r\nAfter you have created your initial post, look over the discussion posts of your classmates and give at least two thoughtful responses to two different classmates (one per classmate) as outlined in the Discussion Grading Rubric.\r\n\r\nA response posting should be a minimum of one short paragraph. Word totals for these posts should be in the 75\u2013100-word range. Whether you agree or disagree, explain why with supporting evidence and concepts from the readings or a related experience. Include a reference, link, or citation when appropriate. The goal of your response posts is to extend discussions already taking place or pose new possibilities or opinions not previously voiced. Your goal should be to motivate the group discussion and present a creative approach to the topic.","rendered":"

              General Discussion Instructions<\/h2>\n

              You are required to post to this discussion THREE TIMES, on THREE DIFFERENT DAYS. Please refer to the Discussion Grading Rubric for details regarding how your performance will be assessed. NOTE: Please be certain to read the entire discussion assignment since in some cases there is more than one question you need to discuss, respond to, or address. Be sure that you have answered the entire question!<\/p>\n

              Post 1: Initial Post<\/h2>\n

              This posting should be a minimum of one short paragraph and a maximum of two paragraphs. Word totals for this post should be in the 100\u2013200-word range. Whether you agree or disagree, explain why with supporting evidence and concepts from the readings or a related experience. Include a reference, link, or citation when appropriate.<\/p>\n

              Scenario<\/h3>\n

              According to a recent article in Forbes Magazine, \u201cThe demand for additional battery life is so large Pok\u00e9mon GO is already having an impact on the sales of external batteries and phone cases with extra battery capacity.\u201d Popular portable battery makers told Forbes that the sales of certain products have grown significantly, up to double or triple just in Pok\u00e9mon GO\u2019s first week in the United States. On a less technological front, coffee prices are up by 13 percent due to increased demand, and the supply of Corvettes is not sufficient to meet the current demand. All of these statements come from headlines from the past three months, indicating that the laws of supply and demand impact everything from your phone to your car to MY coffee. This is the basis for our discussion this week!<\/p>\n

              For Discussion<\/h3>\n
                \n
              1. Choose an article on a topic (product\/good\/service) that affects your daily life.\n
                  \n
                1. For example, I found an article in the Chicago Tribune about coffee prices.<\/li>\n<\/ol>\n<\/li>\n
                2. Briefly tell us what your article is about.\n
                    \n
                  1. My article reported that coffee prices may rise in the next year due to a major crop loss in Brazil combined with the additional issues of the pandemic, logistics, and labor issues.<\/li>\n<\/ol>\n<\/li>\n
                  2. Which aspect of the article\u2019s discussion affects your daily life?\n
                      \n
                    1. Coffee beans at the grocery store will likely see the largest increase in price and the price of coffee sold at coffee shops will likely rise as well.<\/li>\n<\/ol>\n<\/li>\n
                    2. What factors do you think are influencing the supply and demand of the product\/good\/service that is the subject of your article?\n
                        \n
                      1. The crops in Brazil were damaged by both a drought and then two July frosts so supply is very limited and may not recover for a couple years. Meanwhile, demand for coffee is still strong and possibly increasing.<\/li>\n<\/ol>\n<\/li>\n
                      2. Include the URL of the Web site where you found the article, so your classmates can access it.\n
                          \n
                        1. Why coffee could cost more at groceries, cafes<\/a><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n

                          Posts 2 and 3: Respond to Classmates\u2019 Posts<\/h2>\n

                          Instructions<\/h3>\n

                          After you have created your initial post, look over the discussion posts of your classmates and give at least two thoughtful responses to two different classmates (one per classmate) as outlined in the Discussion Grading Rubric.<\/p>\n

                          A response posting should be a minimum of one short paragraph. Word totals for these posts should be in the 75\u2013100-word range. Whether you agree or disagree, explain why with supporting evidence and concepts from the readings or a related experience. Include a reference, link, or citation when appropriate. The goal of your response posts is to extend discussions already taking place or pose new possibilities or opinions not previously voiced. Your goal should be to motivate the group discussion and present a creative approach to the topic.<\/p>\n\n\t\t\t

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                          Candela Citations<\/h3>\n\t\t\t\t\t
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                          CC licensed content, Original<\/div>