Firms supply the goods and services that we as households demand. So what are people looking to buy?
- Why do they select one product over another?
- Can free markets really allocate scarce resources in such an uncontrolled and often chaotic marketplace?
- Search the news for stories related to the supply and/or the demand for a product that you find interesting.
•Perhaps something that you recently purchased or are considering for a future purchase. What's in the news and how can you use economic principles to become a better shopper?