[Brielle Buckler]

In this unit, we learned the basics of economics, and how supply and demand, scarcity and abundance affect the way goods and services exist in the world. Now, let’s talk about it.

According to a recent article in Forbes Magazine, “The demand for additional battery life is so large Pokémon GO is already having an impact on the sales of external batteries and phone cases with extra battery capacity.” Popular portable battery makers told Forbes that the sales of certain products have grown significantly, up to double or triple just in Pokémon GO’s 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 few 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!

Choose an article on a topic (product/good/service) that affects your daily life. Briefly tell us what your article is about. Which aspect of the article’s discussion affects your daily life? What factors do you think are influencing the supply and demand of the product/good/service that is the subject of your article? Include the URL of the Web site where you found the article, so your classmates can access it.

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In order to receive full credit for this assignment, you must first post your own response to the question(s) above by Friday, November 10 at 11:59pm ET. You then must comment meaningfully on at least two classmates’ posts by Sunday, November 12 at 11:59pm ET.

This assignment is worth a total of ten (10) points — 6 possible points for your original post, and up to 2 points for each of the two responses to your classmates’ posts. Please reference our Discussion Rubric for more information, and to this guide from MSSU to learn more about what it means to respond meaningfully to a classmates’ post.

• This topic was modified 1 year, 6 months ago by Brielle Buckler. Reason: Republish

[Juaddy Lajara]

The article I chose focuses on gas prices in the United States rising, with the national average at $3.88 per gallon, the highest in nearly a year, but still lower than in June 2022. These prices have increased gradually, impacting different regions differently. High gas prices affect our daily lives by deterring the budgets of consumers, especially those with lower incomes. In my case someone who drives every single day !

Gas prices are influenced by various factors, primarily the price of oil. Supply and demand play a crucial role in determining gas prices. Factors like political events and weather conditions affect the supply of and demand for oil, which, leads to impacts gas prices. For example, production cuts by major oil-producing countries and increased oil imports by others can affect the supply side, while changes in consumer demand and global economic conditions affect demand. When supply is constrained or demand increases, gas prices tend to rise.

As gas prices increase, we may have to allocate more of our budget to fuel, reducing our ability to spend on other goods and services. So in summary, gas prices impact our daily lives by affecting our budgets and overall cost of living. Supply and demand factors, along with various external factors, influence gas prices, making them an important economic decision.

Article Link:

• This reply was modified 1 year, 5 months ago by Juaddy Lajara.
• This reply was modified 1 year, 5 months ago by Juaddy Lajara.

[Darryl Gunawan]

Hi Juaddy,

I totally agree with the rising price of the gas that is happening lately specifically after the pandemic where there were so many factor  based on the economy factor that generated the problems. I also feel like the supply also being cut due to the political issues such as the COVID related issues with the US and also the Israel-Palestina War that also created so many variables that control the limitation and supply of the oil chain itself. However, I believe there are also  so many solutions that are available for the country to escalate this problem and make sure the prices are still being controlled.

[Karim Badri]

Hey Juaddy,

Your point about gas prices affecting the overall cost of living is spot on. One of the most in-demand products at all times in the US is gasoline. This doesn’t only go for individual consumers, but businesses as well. Without gas, society would collapse as our reliance on it has grown to an all-time high. Public transportation, construction, planes, and cruise ships; all of these use gas and that’s not even counting the hundreds of millions of registered personally owned vehicles.

Seeing the price of this commodity go up is definitely alarming at times, especially when you consider the fact that it’s an extremely limited resource that we are burning through at an extremely quick rate.

[David]

I agree with you, we were all affected directly or indirectly by the increase in gasoline. It is impossible that someone did not suffer this increase. I would like to add that after Ukraine’s war against Russia began Joe Biden decided to close the doors to Russia. The price of gasoline skyrocketed, as we know, Russia has a lot of gasoline, however, it was a necessary change, and the cost was worth it, then United became a partner of Venezuela with respect to gasoline and managed to solve the demand for gasoline. Lowering prices for obviously not It was going to return to the previous prices due to many factors such as COVID-19.

[Gabrielle Phillips]

Hi Juaddy!
I completely agree and applaud you for using a rise in gas prices as your topic for this assignment. The effects of inflation has been transparent especially in terms of gas. The rise in gas prices were one of the first realizations America had in terms of recognizing the entering of an economic decline (aka a Recession). Gas prices is a universal issue and it affects everyone in our economy. Great job!

[Darryl Gunawan]

The recent increase in the NYC Subway Fare (MTA) that just happened few months ago, rising from $2.75 to $2.90. It had been in the planning stages prior to the COVID-19 pandemic got delayed due to the pandemic’s impact. Notably, This was the first raise after eight years, with the last one occurring in 2015 and government was justified the fare raise due to the excessive costs of the company itself, which had reached unsustainable levels. This public service is a lifeline for its residents and tourists, serving crucial activity for many people. Due to this change, many citizens criticized regarding this and complained about it. As a regular commuter myself, I have experienced this effects of this fare hike and I really feel the difference when it comes to daily-routine activity.

 

This costs raise are based on so many variables of consideration that pushed the government decision to make it happened. Based on the article, reports indicate that 71% of the most transit agencies are facing budget deficits of $200 million. Several other transit agencies in Washington, D.C. and the San Fransisco have also decided to raise the fare this year. Based on statistics, the report of public users have rebounded into around 70% of the pre-pandemic level and the government remains optimistic about returning into the normal situation by the next year.

 

As this fare raise, the part that got most heavily impacted are the lower-income worker who are also using the system feel the biggest struggle due to the high cost of living in the city and It really pushes them into the edge of tight economy condition. Many factors that create this thing could be happened such as high amount of workers in the MTA and also the recurring maintenance costs. Additionally, the financial repercussions during the pandemic , which significantly dropped the demand for public transportation, affected the subway system to cover its losses and meet its expenses

Article Link: https://www.nytimes.com/2023/07/19/nyregion/mta-subway-fare-hikes.html

[Armani Warner]

It’s clear that the recent subway fare increase in NYC has created challenges for commuters, particularly impacting lower-income workers already grappling with the high cost of living in the city. The delay due to the pandemic’s impact adds an extra layer of complexity to an already intricate situation, which I did not know Darryl, but I believe the increase will only result in an increase in fare evasion, since the increase I myself has seen an increase in fare evasion people jumping the intersection or waiting for someone to exit from the door. I myself saw the increase on my pocket before being provided a metro card as an ASAP student. But the monthly rate went from $127 to $139 so the increase is on an extra $12.

[Juaddy Lajara]

Darryl,

I agree completely.

Also the recent NYC Subway fare increase to $2.90, justified by the MTA’s unsustainable costs, disproportionately impacts lower-income workers. This trend, seen in other cities like Washington, D.C., and San Francisco, raises concerns about the accessibility of essential public services post-pandemic. Prioritizing financial sustainability while ensuring accessibility is crucial, especially for those most affected by economic disparities.

[Lina]

Hello, I agree as well, I remember audibly gasping when I first found out about the MTA raise as my OMNY charged my card an extra 15 cents. Although it doesn’t seem much, it adds up multiple times every day. I understand that the MTA  is losing a lot of money due to invasions but the increase in fares only makes people attempt to jump over the turnstile more. $2.90 is very close to $3 and most people assume its at 3 dollars already which makes the fare seem to be even more and it’s a sudden change as well, people’s everyday routines will have to cost more.

[Janet Amendano]

Hi Darryl,

The MTA’s recent pricing increases are ridiculous. Certain aspects of the MTA, such sanitation and security measures for passengers waiting for trains, haven’t been changed. Not a lot of police presence. In the train station, things are not very safe. I think there’s no justification for raising the MTA price when nothing else has changed.

[David]

I agree with your argument, for example, in my case, on Thursdays I am going to clean some offices near JFK airport, so it increases if I feel it, especially because I keep track of my personal expenses, even if they are 15 cents apart, I see it as the 2 possible dogecoins that I could have bought but I think that despite the increase in public transportation it is still the most viable and economical, at least for me the cost is worth it.

[Gabrielle Phillips]

Hello Darryl!
This is yet another great topic to touch on. When living in New York, public transportation is an enviable encounter you’re going to have. With that being said are we surprised at the fact that inflation is affecting MTA prices? It’s an easy profit, everyone uses it daily and most people have no other options but to travel using public transportation. This also raises another issue as individuals fed up with the financial increase and are evading paying for their rides by hopping the turnstiles. Great work!

[Armani Warner]

I came across an article on the rising prices of specialty coffee blends due to increased demand and supply chain challenges impacting coffee enthusiasts like me who appreciate a good cup of java.The article sheds light on the rise in coffee prices, attributing it to higher freight costs and supply chain challenges. Higher freight costs impact the transportation of coffee beans from where they are produced to their final destination, adding to the overall expenses in the supply chain. This aspect has affected my daily life and has the potential increase in my coffee expenses in the recent future .

In terms of influencing factors, the article mentions labor shortages, increased fuel costs, and global supply chain disruptions. These factors contribute to challenges in getting coffee beans to their intended locations efficiently. Labor shortages may affect harvesting and processing, while rising fuel costs impact transportation expenses. The global supply chain disruptions, exacerbated by the ongoing pandemic, create bottlenecks in the smooth flow of coffee from producers to consumers.

It’s fascinating to see how various interconnected factors can have a tangible impact on something as integral to daily life as the price of coffee.

Here’s the URL to the article:https://ritualcoffee.com/news/rise-in-coffee-prices/#:~:text=Higher%20freight%20costs,where%20they%20need%20to%20go.

 

[Lauren DeFrancis]

Armani, your analysis of the article on the rising prices of specialty coffee blends shows the intricate factors affecting coffee enthusiasts. The connection you draw between labor shortages, increased fuel costs, and global supply chain disruptions provides an understanding of the challenges in the coffee industry. Your personal perspective on how these factors impact your daily life adds a relatability to the discussion. It’s fascinating to observe how a simple pleasure like enjoying a cup of coffee is tied to complex global dynamics.

[Jessica Munoz]

Hi Armani,

Your take on coffee blends was so interested. Me as a coffee drinker this really caught my attention on the cost and the way it’s made in a sense. From the labor of where the coffee beans come from to how much it cost to make. And who doesn’t like coffee?

[Lina]

Yeah, I’ve come to realize the prices of soft drinks has overall risen by 50 cents to 2 dollars depending on where you go and I feel like that makes all the difference. If a drink is $5 it would feel like it’s very cheap when it’s in fact not since drinks can be made for under a dollar at home but everywhere else is selling drinks for $8 or so that a supposedly expensive $5 drink feels cheap. You mentioning the labor issue is interesting though I didn’t know there was actual issues in the background but I simply thought that companies just wanted to make more money due to inflation.

[Armani Warner]

 

 

• This reply was modified 1 year, 5 months ago by Armani Warner.

[Claudia Chavez]

My article, “Uber ‘Taking Advantage’ of Unsafe NYC with Astronomical Fares: Outraged Riders,” speaks on the topic of how much Uber has lifted their prices. When I first started my job at ZARA I had 6 am shifts, which meant I had to walk to the train at around 4:50 in the morning. Being the daughter of a very overprotective mother she insisted I take Ubers to the train station, every time I had a 6 am shift. At the beginning of my routine, earlier this year an Uber to the train station would run me about $7.98. In the summer Uber raised the price to $9.87. I would order the taxis very frequently so when I noticed the increase I was very shocked. Now with daylight savings time, I often check outside to see if the sun is rising so I am able to walk outside rather than spend 10 dollars on a taxi when I could just walk the 9 blocks.  Within the article, the author touches on how prices were increased due to driver shortages,” New Yorkers are fed up with forking over excessive amounts for Uber and Lyft rides, which skyrocketed during the pandemic as a result of a driver shortage, but have remained high even with more employees behind the wheel.” The pandemic had inflation at an all-time high, with people not wanting to work during COVID Uber had to raise prices but they never did drop after that. The article also gives another reason as to why Uber raised their prices, “As gas prices surged 18.3% for the month of March, Uber announced a temporary surcharge for US customers…of either 45 cents or 55 cents per trip, lasting for at least 60 days.”Gas has gone up a ridiculous amount, I used to fill up my tank with 40 dollars and now I need at least 60. An employee of Uber actually spoke to The Post, he stated, “Everything has to do with supply and demand,” the driver said, adding that they have to work more hours to compensate for higher gas prices.” I couldn’t have said it any better. Supply and demand has affected Uber ultimately having to raise its prices. The demand for Ubers is high but with its supply of drivers and employees being low, prices needed to be raised. I definitely need to change my routine and budget more wisely, paying 10 dollars, 5 times a week is not reasonable for me anymore. With today’s economy, a lot of things changed gas prices rising, uber prices rising, and a pandemic that affected people’s employment, supply and demand definitely impacted my routine as I’m sure it did to a lot more New Yorkers.

References:

https://nypost.com/2022/04/15/uber-taking-advantage-with-soaring-fares-outraged-riders/#

[Lauren DeFrancis]

Claudia, your experience with rising Uber prices is relatable and highlights wide economic impacts. It’s evident that supply and demand dynamics, influenced by factors like the pandemic and increased gas prices, have significantly affected your routine and budget. The personal touch of sharing your morning routine on your commute adds depth to the discussion. Your reflections on the economic landscape provides valuable insight on how individuals navigate these challenges.

[Darius Burton]

Claudia, I agree that with the pandemic prices went up due to the supply of drivers going down, and the prices still haven’t gone back down despite the supply of drivers going up. Due to the high demand, Uber can continue to charge these prices.

[Lauren DeFrancis]

I have curly hair and have grown up using 20 different products every week. Changing my hair routine from summer to winter to ph balanced to color safe treatments. I’ve had it all. The article I chose discussed the supply and demand for curly hair products. It is entitled “Curly Hair Care & Styling Products Market is expected to reach $ 15,654.8 million & expanding at a CAGR of 4.7% by 2031”. The article dives into the increasing popularity of curly hair influencing supply and demand. Factors such as a cultural shift towards embracing your natural texture and the influence of social media contributing tot he heightened demand for these products.

This article talks about how the market for textured hair has expanded tremendously. However with this expansion of products consumers now struggle finding effective products. So many products have come out in such a short time that promote “hydration”, “protection”, “growth”, it’s hard to find products actually good for your hair. With this expansion however it also means products are now rising in hair health awareness. Many today like using curly hair products because they contain genuinely good, nourishing products. Even if they don’t have textured hair.

“Consumers are ready to pay more for those products that provide hair health advantages & help to avoid hair damage and hair fall”, this is great for newbies just discovering these products but for those of us who have had to use these products there entire lives and will continue to use them, we see the prices rise continually and store stock slowly deteriorating. This aspect directly influences my daily life because of the increased demand for these products there are potential shortages in local stores. However, it is nice seeing some of these companies get the recognition they deserve, “offering high-tech goods and developing a strong distribution channel network that is projected to fuel the market growth”.

With brands “increasing their customer base through their respective pricing strategies and by providing high-quality products to consumers” it can be hard to obtain these products. Even if you’re the original target audience.

References: https://www.einpresswire.com/article/628550182/curly-hair-care-styling-products-market-is-expected-to-reach-15-654-8-million-expanding-at-a-cagr-of-4-7-by-2031

[Janet Amendano]

Hi Lauren,

I totally agree with you when picking up an item from the store it’s very diffcult  knowing what choose when it comes to hair products. Many people in fact has bought a product without knowing if it can damage thier hair or not using it right but throughtout the years they have expanded and are well aware of people hair texture.

[Karim Badri]

The first thing that comes to mind is the recent increase in fare prices for the New York Subway and Bus rides. I found an informative article by ABC7, detailing how it’s been EIGHT YEARS since the last hike up in prices. Turns out that the increase from $2.75 to $2.90 was supposed to happen before the pandemic took place, but had to be put on hold until some time after to try and lure in the scores of riders that they lost due to the requirement of self-isolation.

It’s clear that a fifteen cent increase isn’t much for the leagues of people who rarely have to use the bus and train, but that’s not the case for me. I use the trains and buses almost every day, despite being able to drive. It offers a leisurely way to get somewhere far without having to worry about traffic laws, parking, or delays due to construction, accidents, etc. Eventually though, that extra 15 cents begins to build up; add that on to the fact that I commute at least thrice a day for six days out of the week and you’re looking at over $100 dollars extra per year wasted on commuting ($140.40 to be exact).

It’s clear why they’re doing this, the MTA more than likely operates on a loss in exchange for providing an economic value that is critical to the infrastructure of New York City. Pair that with how few people used public transportation during the pandemic and anyone can see that they were more than likely burning a hole in their pocket. That’s not all though; with the rise of apps like Uber or Lyft, the slice of pie that the MTA had when it came to participating NY residents who normally relied on their services had become even thinner.

Article Link: https://abc7ny.com/mta-fare-hike-bus-subway-congestion-pricing/13678904/

[Jessica Munoz]

Hi Karim,

Although i do not have to deal with the subway system in New York I find it ridiculous that the price went up. I don’t find it fair that many of y’all have to budget in your subway transportation into your everyday spending because of how much its used. Many might not think it’s much, but it ends up adding up at the end of the month. And like you said it doesn’t make it better that prices are increasing everywhere mostly with uber, Lyft, etc.

[Bryan Teutle]

Hi Karim, even though the price did increase was small, the impact can definitely be felt by people who pay for Monthly passes like myself . The article stated the plans of the MTA well and the effects of the rising demand for public transportation that not only effect the people in the city but those in the upper areas of the city too. I think the one thing missing from the article would show how the budget was spent the past years to further explain why they are increasing the fare instead of going by their words.

[Bryan Teutle]

Something as fun as trading card games are often the biggest example of supply and demand. When it comes to the pricing of buying used or specific cards, their prices tend to shift around over time as they either lower in price because of the player usage decreasing or remain at a high price. There are many factors that contribute to the pricing of single cards as explained in the article (https://infonomics-society.org/wp-content/uploads/Prediction-Soaring-Price-by-Decision-Tree-Dealing.pdf). One, the amount of cards used being sold in set play a big part as it is a random factor to see if they appear frequently or not. Two, the card has to be very useful that player constantly want it in high demand. If the card is useful in a competitive sense, then more player will buy the card in a TCG market for them to also use. The third and final factor the article states is the external factors such as the time past that the set has been initially released or rule changes that occur or special foiling. In this time, old cards that still remain useful or have never been printed remain some of the most expensive cards sold on the markets and can go up to thousands of dollars. When it comes to card games, I just want to enjoy the game with some specific cards that are a bit tough for me to obtain but the most I spent would be like $5 as The market only caters to the people that play in a competitive scene.

Article Link: (https://infonomics-society.org/wp-content/uploads/Prediction-Soaring-Price-by-Decision-Tree-Dealing.pdf)

[Claudia Chavez]

Hi Bryan,

As I was reading your DB I was really interested in learning how trading cards related so much to our lesson on supply and demand. Your article does a great job of explaining how the supply and demand in card trading affect consumers. “When new products are released in the TCG market, the demand for old products increases, increasing costs. For example, a card that sold for 2 USD the week before is now in high demand because a new card that matches it was just released. As a result, the price soars to the following week nearly 20 USD.” The increase in price comes directly from the consumers wanting more of the product. You did a very nice job of showing how business is everywhere.

[Matthew Edwards]

“The pandemic has upended businesses across the world, but it has been very good for Amazon. Every lockdown “click to purchase” nudged the company a little further toward utter domination of online shopping as total e-commerce sales nearly doubled in May“

“Consumer spending on Amazon between May and July was up 60% from the same time frame last year, according to the financial data firm Facteus. The company’s extraordinary power — it has 38% of the e-commerce market trailed by Walmart with 6% — was under scrutiny well before COVID-19. But the lockdown that boosted the company’s dominance also threw into higher relief its consequences for other businesses.”

The article I picked is called “Many Companies Won’t Survive the Pandemic. Amazon Will Emerge Stronger Than Ever.” This article is about how Amazon benefited from the pandemic. throughout the pandemic I used to work at amazon as an essential worker. it was great because a lot of jobs were closing and it was a easy way to get food or cleaning supplies in the comfort of your home.

 

[Darryl Gunawan]

Hi Matthew,

In my opinion, I think this is the step that has been totally predicted clearly during the pandemic where everybody was transitioning their way to meet the demand where there were so many rules and limitation regarding going out to shop, while those retail stores are really relying on walk-in customers. I honestly consider this as the outdated innovation businesses since the way world works are changing and in order for those businesses to survive is by doing the same transition that meet the demand. I think that is the way those retailers could strive back to their optimal performance.

• This reply was modified 1 year, 5 months ago by Darryl Gunawan.

[Gabriel Chin]

The article I choose explores the persistent rise in food prices, attributing to a combination of factors such as inflation, pandemic-related supply chain disruptions, tariffs, high labor costs, and the war in Ukraine. While inflation has slowed in the past year, food prices have steadily increased since 2020. This escalation is evident in the 3.7% rise in food prices between September 2022 and September 2023, as reported by the Bureau of Labor Statistics. Notably, groceries are 2.4% more expensive year-over-year, impacting daily life for consumers, while restaurant patrons continue to face a 6.0% increase in food costs. The article points to diverse influences on these price hikes, including labor costs, climate-related challenges affecting crop yields, ongoing supply chain issues, and the Ukrainian conflict disrupting global food exports. Recent changes in food costs reveal notable increases in items like frozen juices, frozen vegetables, uncooked beef steaks, and white bread.

article: https://www.nerdwallet.com/article/finance/price-of-food

[Juaddy Lajara]

Gabriel your article was a great one to choose because it it something that impacts us directly everyday. As consumers grapple with these rising costs, addressing the root causes requires comprehensive strategies and international cooperation to mitigate conflicts contributing to global economic instability and food price hikes.

[Bryan Teutle]

Hi Gabriel, the article you chose was very easy to understand and presents the data well. I think you post did a great job in summarizing the article since food is something I believe that rises the most based on supply and demand compared to other necessities.

[Lina]

<span style=”font-weight: 400;”>In the article “Restaurant Chains Make It Cost More to Be Loyal”, brings attention to the fact that loyalty perks for most fast food chains have decreased in value since it’s original launch. An example given was when a member of the Dunkin’s loyalty program, Ms. Laufters started to notice a shift in the benefits and overall losing one of her usually free drinks every month. The sudden changes causes an annoyance to the customers. The company’s defense is inflation and that small freebies of burgers and drinks add up. A bunch of customers were also saving their points throughout the months but the worth of the points went down as a free item would cost more points now. It makes it seem like all those months of faith were for nothing. The rewards program dragging you in then switching up randomly seems very misleading.</span>

<span style=”font-weight: 400;”>This personally affected my life when I was coming home from work late at night trying to order some fries and the deals were very confusing. The usually one dollar fries aren’t there anymore and the only other coupon option isn’t even active until some sports team wins their games. It bothered me for a bit but I just ended up buying the fries at it’s full price. A lot of their coupons generally speaking aren’t there anymore. These apps give you a lot of deals at the beginning so that you’ll use their mobile app then after a while the perks aren’t worth much anymore. If I had known earlier that the deals weren’t going to be good, I wouldn’t have walked extra to the Mcdonalds.</span>

<span style=”font-weight: 400;”>I believe the the companies were offering a lot of deals at the beginning because they simply wanted us to download the mobile apps, but after a while, they’ve already gotten what they want, our emails and other information alongside with the apps and newsletters signed up, meaning they won’t offer as much for us to stay. There isn’t really a treat your regulars well so they remain regulars but more like let’s milk the regulars because they’re used to said company. Anyways, I actually don’t care that much, sucks but free is free.</span>

<span style=”font-weight: 400;”>https://www.nytimes.com/2023/02/28/business/restaurant-reward-programs.html</span&gt;

[Karim Badri]

Hi Lina,

You absolutely bring up a great point about the value of customer loyalty waning in recent times. I can’t remember the last time I bought a card dedicated to a specific fast food chain or grocery shop, despite the fact that the employees keep pushing the fact that you’ll “save money”. At the end of the day, month, or even year, the amount saved or the points earned in an app end up being negligible. Why would I spend thousands of dollars remaining loyal to a specific business, buying products sold there, only to be reimbursed with a 20-dollar coupon?

You also brought up that these billion-dollar chains try bringing up the fact that inflation no longer allows them to keep their prices reasonable, but I’ve only ever read that these same companies are breaking records in yearly profits. To top it off, an extremely popular brand like Arizona refuses to raise the price of their drinks, even going as far as encouraging customers to report storefronts that attempt to secretly raise the prices themselves.

[Janet Amendano]

The article that i picked is ”US grocery prices rose in May. here’s what got more expensive.” While placing my food at the counter at my local  grocery, I saw that not many groceries were purchased. The cost was less than two hundred thousand dollars. I was shocked to see how much more expensive it turned out to be to buy groceries than I had anticipated. Inflation has caused a 5.8% increase in food. Food prices have increased due to a number of factors, including the weather, higher supply chain costs, and the ongoing conflict in Ukraine. Due to the contagious avian flu that decreased the number of egg-laying chickens last year, egg costs have recently increased. That was one of the several things driving up the price of eggs. people’s daily lives have been affected by these since they have family members which they couldn’t possibly afford groceries. Knowing that they struggle to pay their rent, credit card bills, and other expenses because they don’t have enough money to feed themselves is  difficult. for insances around Covid 19 pandemic has caused major supply chain problems, particularly in the beginning stages of the pandemic when manufacturing and shipping were affected. This is another reason why the result in a shortage of some goods has increase the  costs. Many things have changed in this economy, and we have to acknowledge that expenses have risen.

 

Article link : US grocery prices rose in May. Here’s what got more …CNN.comhttps://www.cnn.com › 2023/06/13 › business › grocer…

[Claudia Chavez]

Hi Janet,

As I read your DB I noticed it correlated with my article as well. Prices have skyrocketed because of the pandemic, while you touched on grocery prices rising I focused on the prices of Uber soaring. With the pandemic being a massive hit on the market fewer people worked and it caused goods and services to be much harder to receive and obtain. Your article states, “Plus, food sellers have used the disruptions as cover to raise prices.” Just like with Uber even though drivers have been back to work prices have not dropped. Your article does a nice job of showing how supply and demand in the market affect all of us greatly.

[Jessica Munoz]

Recently the movie theaters have skyrocketed in ticket sales. Many movies for example, is the Taylor swift: The Eras Tour all the swifties know about this one. Another one is the Five nights at Freddies Movie, many gamers know about this one.

The Taylor Swift movie has amassed $92.8 million on the opening week. As many Swifties know Taylor Swift is known as one of the most famous touring artists known. This movie was released on October 13, 2023, although many thought her tour ended it has not but technically it did. A major thing that promoted this movie was Taylor Swifts tour. Even though this movie came out a month ago it still seems to be the top selling movie so far.

Taylor Swift’s ‘Eras Tour’ Film Rakes In Record Sales—Beating Concert Movies By Bieber, Michael Jackson And More (forbes.com)

The Five Night of Freddys movie is currently the first selling movie since it came out on October 23,2023. This movie has made $116 million only in North America which is surprising. There is many people who did not know about this movie, and if they did it might have been because of the actor or the video game. Five Nights at Freddy’s is a horror-themed video game series where players work as night-time employees at Freddy Fazbear’s Pizza, a fictional children’s restaurant inspired by family pizza chains. This has been a great film for Matthew Lillard.

Both of these movies have the complete opposite audience, but they were both able to sell and show their audience the excitement and need to watch these movies. They knew how to target them with what intrested them.

Matthew Lillard on ‘Five Nights at Freddy’s,’ New D&D Freevee Series – The Hollywood Reporter

[David]

Food Prices Rise Even as Inflation Eases, Straining Consumers’ Budgets

According to the article “Food Prices Rise Even as Inflation Eases, Straining Consumers’ Budgets”Even though inflation went down, food prices continued to rise, Hanna Hensey, 29, an assistant high school teacher in Arlington, Virginia, said she was happy because some products went down in price, but other products, for example, egg cartons It was worth 5 dollars, so she stopped buying them and mentions that despite some relief in the supermarket, Hensey was frustrated since she spends 100 dollars compared to the 70 she spent before the pandemic. Food increases are especially painful in low-income households where the biggest expense is food. Fam Chock, 43, an accounting specialist at a nonprofit organization in Washington, is surprised by the low price of a carton of eggs in recent months but he had not realized that the price of other products skyrocketed. Chock says that food for his family is now $1,000 compared to $600 before the pandemic. In general, the increase in food directly affects my pocket and the purchasing power I have. It is inevitable, we know that the purchasing power we had before the pandemic is not the same as today. If prices had not increased so exaggeratedly, I could have used that money to acquire other assets. Firstly, we have to know that many companies stopped carrying out their function but thanks to the good decisions of the government essential jobs continued working if there were no jobs I am more than sure that prices would have doubled and even tripled. I also think that the United States is allowing people to come to the country en masse. I saw in the news not long ago that around 10,000 people come to NY monthly. In fact, the mayor mentioned that it would be unsustainable to continue like this, which is why the demand is constantly growing Regarding the supply, as long as there are suppliers, I think we do not have a problem. However, with the constant growth of people, there will be a time when we will need a different strategy.

 

• This reply was modified 1 year, 5 months ago by David.

[Gabrielle Phillips]

A supply and demand issue: the real estate market in New York City.
As some of you may know, the housing market of NYC has been increasing constantly throughout the years. Thanks to The New York State Association of Realtors (NYSAR) we have primary access to the current state of the New York housing market. Just this year, September reveals a dwindle in inventory of houses for sale in our state. Falling by twenty four % in comparison to twenty twenty two, twenty eight thousand nine hundred and forty three units that were available the month prior had marked the forty seventh consecutive “year-over-year inventory reduction.” The issue of housing in New York has always been exactly that … an issue. As the years go on the issue only gets worse. In reference to noradarealestate.com, “ Mortgage rates in September reached their highest point in over two decades. According to Freddie Mac, the average interest rate on a thirty year fixed rate mortgage was seven point thirty one %.” This statistic has not been seen since the two thousands! Between August and September there was an increase in percentage going from seven point zero seven to seven point twenty.
New York is a vibrant and dream fulfilling Metropolis attracting tourists since the dawn of time; so are we really surprised that “the Big Apple” is in such high demand? Going into the NYC real estate market of October I have to ask those reading this, is this a Sellers Market? Before you answer, let’s dichotomize the most recent housing statistics/ trends of our city.
• Median Listing Home Price: $799K
• Year-over-Year Trend: Up 1.8%
• Median Listing Home Price Per Square Foot: $785
• Median Home Sold Price: $705K
Lux buyers are still purchasing the lavish lifestyle in which manhattan In-tells as that is still a realtors play ground. In July alone 89 luxury contacts were singled. 81/89 of those properties were sold that resided in manhattan. The housing market of Brooklyn is still as competitive and relatively expensive as ever as the borough had hit the new records entering the Million Dollar club. This past July, Brooklyn’s , median asking price hit $1 Million dollars!
For those who view such extravagant demonstrations of wealth astronomical or those who simply would like to keep a budget within their means, Queens remains your most realizable and affordable housing destination in the city. This past July left queens with a median asking price of $648,000.
From these statistics alone it is clear to me that The New York real estate market is influenced by factors such as population growth, job opportunities, interest rates , economic trends, and government policies. The demand may increase with a growing population and a strong job market, while the factors like interest rates and regulatory changes can impact supply by influencing construction and development. External events, such as economic downturns or shifts in corporate headquarters, can also play a role In shaping the dynamics of the New York real estate market.

NYC Housing Market 2024: Trends and Forecast

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