[Rotem]

The article I choose discusses how smartphone distractions affect our face-to-face interactions and are particularly relevant to people’s daily lives. The article delves into how smartphones have altered our everyday routines. It draws attention to the pros, such as the profound connectedness they provide, and cons, like the constant distraction and harmful consequences of in-person social relationships.
I’m sure you can relate to those times when you check your phone for updates instead of discussing with the people you’re with.

Aspects of the Market that Affect Supply and Demand-

Market Needs:

• Smartphones make global connections possible, breaking down barriers of distance and time.
• They’re multipurpose, which means that one can use them for everything from business to pleasure.
• The fear of missing out (FOMO) on social media sites like Facebook, Instagram, and Twitter causes users to check these sites frequently, which raises demand.
• Useful in many ways, from finding your way to making purchases and keeping tabs on your health.

Side of Supply:

• Constant enhancements to both computer hardware and software are examples of technological progress.
• In this highly competitive market, manufacturers and tech firms constantly strive to outdo one another with new and improved products.
• Many apps and services rely on user participation as part of their business models, leading to an influx of innovative ways to make money.

This article concludes by highlighting the revolutionary impact that cell phones have had on our culture. The many ways smartphones can be helpful have increased consumer demand, while technological advancements and intense market competition have increased the availability of smartphones.

Article link: https://www.nationalgeographic.com/science/article/smartphones-revolutionize-our-lives-but-at-what-cost

[Amr Taha]

The product I’ve chosen is “Gasoline” a necessary commodity for daily transportation.

I chose gasoline because it’s an essential part of daily life, with demand being relatively inelastic due to its necessity and the lack of immediate substitutes.

Demand for gasoline is inelastic because it’s essential for commuting and has few substitutes. Despite price changes, people need to drive and thus continue to buy gasoline.

However, changes could make gasoline price elastic. Availability of substitutes like electric cars, lifestyle changes like remote work, environmental concerns, and significant price hikes could lead to more elastic demand, as these factors could encourage consumers to seek alternatives or reduce usage.

URL:https://www.vdh.virginia.gov/environmental-health/public-health-toxicology/gasoline/

[Nanyamka Mead]

I would like to discuss the demand in the food industry.  I realized that I buy something to eat at least 4 times out of the week. Because I am a working mom going to school full time. Time does not always permits me to cook everyday. This article I will be sharing is a explanation of why eating out is much convenient for working class individuals, and trend of the majority not enjoying the art of cooking at all. Not only is eating out everyday is proven unhealthy it is also cost efficient. The demand for fast food/ Dining out has increased despite economic decline. There are alternatives such as grocery shopping and meal prep. Majority of individuals enjoy eating out more than to prepare there own food.

https://www.cnbc.com/2017/09/27/how-much-americans-waste-on-dining-out.html

• This reply was modified 1 year, 9 months ago by Nanyamka Mead.

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