Module 2 - Case CONSUMER BEHAVIOR, PRODUCTION AND COSTS Assignment Overview Consumer Decision-Making In the same way that you have been affected by marketing since you first asked an adult for a toy o

Discussion: Profits and the People

The Economics of Consumer Behavior

In 2020, America’s purchases of toilet paper, hand sanitizer, and cleaning products shifted from institutions to households. U.S. home cooks prepared food from scratch in their kitchens rather than eating at restaurants. As people were stuck indoors, home improvement spending increased. Working from living rooms meant purchases for work attire shifted from business casual to loungewear and sweats. Online buying and delivery powered the economy in many sectors.

Module 2 Discussion Week 1 Resources

The decline and recovery of consumer spending in the US (2020)
Shopping And Shots Power An Economy Heading To Its Fastest Growth Since 1984 (2021)
Consumers Expect Surging Inflation to Crush the Purchasing Power of their Labor: Fed’s Survey (2021)
Two-thirds of urban Indians plan to increase online shopping (2021)
What will the consumer demand recovery from COVID-19 be like? (2021)
Theory of Consumer Choice

Week 2 Discussion Post

While many high schools and most colleges require economics in their undergraduate curriculums, does the American consumer understand how supply and demand affect prices?

For this discussion, you will look at how the economy influences consumer behavior. Research an example and provide an overview of it and particularly how economics fits in. (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 analysis and share your feelings about the scenario presented and assess how well it was connected with economic theory.

2nd Interactive Response:

Analyze another student's coverage and share your feelings about the scenario presented and assess how well it was connected with economic theory.

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.

Why Stuff Costs So Much

Supply chain disruptions caused by the pandemic take time to right themselves, leaving industries with higher costs and lower supplies. When faced with rising prices, consumers must decide to pay them or look for lower-priced substitute goods.

Module 2 Discussion Week 2 Resources

Another jump in prices tightens the squeeze on US consumers (2021)
Is inflation a problem now? Maybe, but more likely not (2021)
Food Industry Financials: Inflation, CPB, and more (2021)
Starbucks Facing Supply Chain Shortages (2021)
Shortages set to affect goods prices globally, but maybe not for long (2021)
How Changes in Income and Prices Affect Consumption Choices

Research a scenario (not presented in the readings) and explain the relationship between the pandemic and the prices of a particular good. Seek an example from 2021. Focus on economic theory to support the post. (Research Support Required)

WEEK 2 INTERACTIVE RESPONSES TO CLASSMATES

1st Interactive Response:

Analyze one student's analysis and share your feelings about the scenario presented and assess how well it was connected with economic theory.

2nd Interactive Response:

Analyze another student's coverage and share your feelings about the scenario presented and assess how well it was connected with economic theory.

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.