Module 1 - Case EQUILIBRIUM, SUPPLY AND DEMAND Assignment Overview Supply and Demand in the Real World A commodity is the focus of this case which uses real data for price fluctuations over 6 months.

Discussion: Supply & Demand: COVID Effects

2020 was the year we scrambled for hand sanitizer, toilet paper, and other necessities. Store shelves were empty, and the internet was offering scarce goods for a premium. Fast forward to 2021: local restaurants looking to fully reopen are having difficulty finding workers. This is supply and demand in action.

Module 1 Discussion Week 1 Resources
Introduction to Demand and Supply (2021)
Lumber prices still sky-high amid COVID shortage. What’s being done to get costs down? (2021)
Is there a chicken shortage? How COVID, chicken sandwich war, and chicken wing demand are impacting restaurants (2021)
Labor shortages become a key challenge as COVID-19 recedes (2021)
Rental car rates soar with vehicles in short supply (2021)
SUPPLY AND DEMAND: Pandemic has delayed manufacturing, caused shortages; some consumers may have to wait for products (2021)
Low Supply, High Demand: Pandemic Woes Send Food Prices Soaring (2021)

Week 1 Discussion Post

Based on the resources provided or your research, discuss how the pandemic triggered (or continues to impact) supply and demand shifts in your workplace, community, or home. Be sure to include price implications in your post. (Research Support Required)

This post should be 2 paragraphs in length (150-200 words). Since you are engaging in research, be sure to cite in the body of the post and add a reference list in APA format. NOTE: failure to use research with accompanying in-text citations to support content will result in reduced scoring “Level 2-Developing” on the grading rubric.

WEEK 1 INTERACTIVE RESPONSES TO CLASSMATES

1st Interactive Response:

Analyze one student's treatment of supply and demand shifts and share how media portrayed the effects.

2nd Interactive Response:

Analyze another student's coverage of price implications and share accounts or news reports you heard that illustrated how people were affected.

Each reply should be one paragraph in length (or about 75 words) and must be substantive. Do not simply say “I agree” or “That is great”; specify why and be detailed in your explanation. You may use research in your responses, but it is not required.

Net Value of Higher Minimum Wage

News sources are filled with the pros and cons of increasing minimum wage at the state or federal level. While there are arguments for different sides of the issue, most fail to address big picture implications of the scenario. Rather than subjectively addressing changes in minimum wage, you will be looking at it objectively from an economics viewpoint.

Module 1 Discussion Week 2 Resources
Price Floors in the Labor Market: Living Wages and Minimum Wages (2021) Scroll down to find section.
A $15 minimum wage would have significant and direct effects on the federal budget (2021)
What Are the Pros and Cons of Raising the Minimum Wage? (2021)
Living wage: Ireland wants to be world’s leader – but could crush small businesses (2021)
Ensuring the minimum wage keeps up with economic growth would be the best way to help workers and preserve FDR’s legacy (2021)

Based on the resources provided and internet research, explain the implications of raising the minimum wage from the point of view of stakeholders: the worker, business, consumer, and government. Provide an impartial research-supported presentation. (Research Support Required)

WEEK 2 INTERACTIVE RESPONSES TO CLASSMATES

1st Interactive Response:

Analyze one student's analysis and share your feelings about the impact on one of the stakeholder groups.

2nd Interactive Response:

Analyze another student's coverage and share how different media portray another of the stakeholder groups.

In your own words, respond to the discussion and comments of classmates. Grades will be based on effectual, concise, and interactive feedback. The excessive use of quotes will directly impact performance since this indicates a lack of comprehension and shows that you may not have mastered the concepts.

Why a discussion post and reply each week? Planning and time management are invaluable skills for business professionals who juggle jobs, personal lives, and other endeavors. Coming to terms with balancing priorities in an academic setting is a transferable skill to the workplace. Making optimum decisions about scheduling can help you excel along the career path.