[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 years, 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, all components of this assignment are due by 11:59pm ET on Sunday, July 30, 2023. You should first contribute a thoughtful post of your own before viewing/commenting on the posts of others. Students should review others’ submissions and comment meaningfully (refer to this guide from MSSU for reference) to at least two other students. For reference, here is the difference between a comment and a post — you will be using both for this assignment.

Once you submit your post, you must respond meaningfully to at least two other classmates’ threads. 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.

• This topic was modified 1 year, 9 months ago by Brielle Buckler. Reason: Updated Links
• This topic was modified 1 year, 8 months ago by Brielle Buckler.

[Jacob]

During my morning weekdays, being a person who needs his coffee in the morning in order to work successfully is a huge deal and sometimes I can be in a rush which can lead to me leaving my keys, ID or even my reuseable coffee cup that Starbucks highly recommends due to sustainability goals. With most companies now looking towards a greener future, the topic I would like to disclose is the climate crisis that is currently happening and to minimize the problem is by simply cutting back on International Paper which actually supply paper cups to businesses, but the fact is that it’s not 100% recyclable to use due to the many chemical intergrated with it, and so what Starbucks is trying to do is have there consumers bring in there own reusable coffee cups and further cut back on the supply of paper cups. Many states in the U.S. have started mandatory for customers to bring in their own coffee cups but it’s a big process that’s still developing in the company, yet in addition they do sell reusable coffee cups as well. In conclusion, as a person who cares very much about the climate, I am very into the idea of the reusable coffee cup for Starbucks and I hope everyone else starts doing it as well. To learn more about Starbucks reusable cups and how to help, I have added the website at the bottom.

https://stories.starbucks.com/stories/2021/starbucks-brings-back-personal-reusable-cups-to-starbucks-cafes-in-the-us/

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

[Ingrid]

I agree with this because our environment has gotten worse due to the big amount of waste of plastic and it has affected our climate drastically. Bringing in our own reusable cups Can definitely help a part of the environment.

[Rotem]

Hi Jacob,

I think that you brought up a very relevant and vital issue. The climate change crisis confronts us worldwide, including significant fires in Canada and extreme heat waves in Europe. I think that the solution of Starbucks which is promoting the use of recycled cups should be implemented in other companies in the market as well. Each company needs to try and adopt their products to be more environmentally friendly. Only with a mutual effort we can save our world.

Thank you for bringing up this matter to the discussion.

[Toi Chotoosingh]

Hi Jacob,

 

I agree with your stance on the topic of Climate change and how using reusable cups can act as one of the many ways we can help the environment. When I go to Starbucks, I do see people use their reusable cup as a way to not use so much plastic. Also, a lot of Starbucks stores now don’t have their plastic straws available but you have to ask for one, to minimiz3e the use of plastic straws. In other coffee shops as well, I see they have paper straws or recycled straws I believe that are made from agave which I found to be a very interesting resource. If we can all work together and start using less plastic, we can really help the environment in lots of ways.

[Brielle Buckler]

Straws are such an interesting issue when it comes to coffee shops and restaurants. It seems that in response to animals like turtles being injured by plastic straws, there has been a bit movement to remove plastic straws from circulation, but this too is not an issue of supply and demand, but rather changing customer preferences.

[Jingtong]

Hello, Jacob. It’s great to see your interest in Starbucks’ sustainable development ideas and it’s meaningful to reduce paper cup usage by bringing own coffee cup. Indeed, while it seem like a small individual action, if billions of people worldwide adopt this practice, it can have a significant impact in slowing down the progression of climate change. When us comes to global issues, we must stand united and work together to protect our planet.

[Allan Pinedo]

Hi Jacob,

I wholeheartedly support efforts to promote Starbucks’ reusable coffee cups in an effort to lessen the climate crisis and decrease the use of paper cups. I hope more people follow this environmentally friendly path for the future, because it’s a commendable initiative that deserves support. The website is provided for your convenience and can provide you with more information and ways to help.

 

[Mahir Khan]

hi Jacob,

I definitely agree with the idea of using reusable coffee cups since it is more environmentally friendly and would produce less waste compared to non-recyclable paper cups. Since buildup of non-recyclable waste is harmful for health and the environment. I appreciate the efforts of Starbucks to encourage its customers to bring their own reusable cups to buy coffee.

[Brielle Buckler]

Thanks for sharing, Jacob. This is more about an environmental movement, rather than supply and demand, though, isn’t it? There is not a scarcity of paper cups — which is what this topic is about.

[Hamidou]

My article is about the effect of inflation on regular everyday groceries. All aspects of this article affect my everyday life because of the COVID 19 pandemic, inflation, and global supply chain disruption. These issues has caused a shortage in certain products I use on a daily basis. Which cause prices to rise for basic things like eggs and milk because there is an increase demand but a shortage in products available. The factor influencing this shortage is the covid 19 pandemic that caused supply chain shortages and inflation.

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

[Ingrid]

I Can relate to this because during covid 19 my family and I struggled to buy groceries since everything was expensive and since we’re such a big family , we had to figure out away that our food could last for two weeks .

[Toi Chotoosingh]

Hi Hamidou,

I agree with your post. Covid-19 has definitely affected all our lives and still continues to do so even now. The inflation of many products is still ongoing from coffee, to pizza shops, to gas, to groceries. Atmy local grocery store, inflation can be so bad that a pack of strawberries cost $7.99 which I believe to be insane and unreasonable. But, as you said with the shortage of such products, the demand increases and therefore the prices rise as well.

[Tamala Jones]

Hi Hamidou,
I agree with you Covid-19 has made inflation increase extremely and it has impacted all of us. I remember when buying groceries and my mom, her close friend, and I were all so shocked on the prices we were see for things such as lettuce and eggs we couldn’t believe it. I also really like that you choose this topic since it’s something we can all relate too.

[Jingtong]

Hi, Hamidou. I completely understand. During the pandemic, many industries faced various challenges, and numerous products experienced supply shortages, leading to significant inflation.

[Brielle Buckler]

We’ve all felt the results of rising grocery prices — and the fact that wages aren’t keeping up. Thanks for sharing! What do you think is forcing prices higher?

• This reply was modified 1 year, 8 months ago by Brielle Buckler.

[Toi Chotoosingh]

I work in a full time 9am to 6pm job in Real Estate working as both a Leasing Specialist, which consists of answering inquiries and approving/denying people’s applications to the company’s rentals, and as a showing representative, which consists of showing clients our available units, answering inquiries, and solving tenant problems. As you might know, after the climax of Covid-19, the New York City rental market has sky rocketed to a ridicuolsly high amount. Within the article that I chose to shed some light on the cut throat rental market here, it discusses negotiations and tenants rent being raised to a point which they cannot afford. I have many clients call in to try to negotiate, demand, argue, bribe, etc. just so that they can secure an apartment ata lower cost because of how crazy the market is right now. Tenants will call and complain about why their rent is going up and how will they be able to find new housing when the market is massively high. Having to dealvwith so many understandable issues with how landlord’s are raising rent due to the demand for NYC living after covid, does affect my daily life. Because of Covid -19, many New Yorkers moved away from the epicenter of the global pandemic, either moving permanently to another state, or going to one of their suburban homes. However, with the climax of the pandemic over, and now it has officially been declared over by the WHO, many New Yorkers, and others from all across the states and globe, are moving back into New York causing the demand of rentals to go up, and the supply to go down. To landlords, it is the perfect opportunity to rent at high rates for those who can afford it. I have put the link down below for you guys to learn more about it.

https://www.nytimes.com/2022/03/07/nyregion/nyc-rent-surge.html#:~:text=Rents%20in%20New%20York%20rose%2033%20percent%20between,100%20largest%20American%20cities%20tracked%20by%20the%20group.

• This reply was modified 1 year, 9 months ago by Toi Chotoosingh.
• This reply was modified 1 year, 8 months ago by Brielle Buckler.

[Briana Lima]

Hi Toi,

This was an interesting and relatable read. New York City is notoriously known for outrageous rent prices. I don’t see it getting any better because people move here to live and work in the ‘Big Apple’ and will pay a pretty penny for these apartments. As long as the demand is there, the prices will continue to rise because they know people will pay for it! I’ve seen so many small apartments in areas like the West Village and the Upper east side that go for 3,000$ a month and the competition to get the apartment is crazy! It’s not worth it in my opinion, but people who come from other states seem to love it.

[Brielle Buckler]

Rents and mortgage rates are going up — and it’s really hurting New Yorkers. Thanks for bringing your own experience into this discussion, Toi!

[Briana Lima]

Living in New Jersey and working in New York City requires me to commute to and from twice a day, five times a week. At the beginning of this year, the Port Authority of NY and NJ increased the toll going into to NY from 16-17 dollars for the Lincoln Tunnel. Although I take the bus into the city (NJ Transit), this still affects my everyday life/commute. Higher tolls mean less traffic, which means I can get to work faster! I have noticed that this year in comparison to last year- less cars are going into the city, and it seems as though more people are taking public transportation. Luckily, the NJ transit fare has not gone up as a result of the toll hike. Relatively, the demand for public transportation has gone up, so that is probably why the fare has remained constant. They are able to service more customers at the same price and everyone is happy. While this isn’t necessarily profitable for E-Z Pass and the Port Authority of NY/NJ because of their decrease in customers/use, NJ Transit is benefiting from it.

The reason for the toll hike was the three million dollars they lost during the pandemic, as well as the current inflation rate. Understandably, during the pandemic, the workforce became remote for a lot of people. People worked from home, so the demand for public transportation significantly decreased. This is a good example of shift in demand, where the price increasing or decreasing was not a determining factor of the demand. It was due to another economic factor: the pandemic.

Higher Port Authority tolls now in place; marks first increase in 2 years (news12.com)

[Hamidou]

I also drive around a lot and I feel the toll price and fare hikes for transit agencies during hard times. Also with new congestion pricing in the work in NYC it wont be worth driving around the city. I feel it’s better taking public transit. Which is also good for the environment since less car will be on the streets.

[Amr Taha]

Hi Briana!

Your post about the toll hike and its impact on commuting is so relatable! It’s cool to see how the higher tolls are actually encouraging more people to take public transportation. The pandemic definitely changed things up, with remote work and all. But it’s great that NJ Transit is benefiting from the increased demand. Great Topic and thank you for sharing your thoghts about it.

[Brielle Buckler]

Excellent topic, Briana. And thanks for sharing the reasons behind the toll hikes — have you seen the proposed midtown toll? I think this will even further reduce traffic in the city.

 

https://www.usatoday.com/story/news/2023/06/27/nyc-congestion-pricing-tolls-approved/70362175007/

[Aboubacar Traore]

My article is about the struggle of taxi drivers in New York. I’m currently a taxi driver, and because of COVID-19, my job was affected. Before the coronavirus, a lot of my friends and I went to have expensive cars in the hope of working hard to reimburse the debt and earn money. Unfortunately, COVID-19 put the economy down and provoked inflation, which is the increase in goods or services prices. Moreover, Uber raised the ride price, which made the customers not to pay tips without raising the drivers’ salaries.

Contrary to the past, I work more than I earn with multiple bills to pay. For example, I was earning around $1500 a week before COVID-19, and nowadays, it is less than $1500 with rent payments, food, school fees, and car expenses. Finally, a lot of my friends quit becoming truck drivers because of the heavy loan they took to buy cars to drive Uber, and the cost of living.

https://www.nytimes.com/2023/01/12/nyregion/cab-uber-lyft-drivers.html

• This reply was modified 1 year, 8 months ago by Aboubacar Traore.
• This reply was modified 1 year, 8 months ago by Aboubacar Traore.

[Amr Taha]

Great topic Aboubacar and  I can totally relate to the struggles you’re facing as a taxi driver during these challenging times. My dad had a taxi business but couldn’t keep up because of Covid and he had to shutdwon. Covid has hit us hard, and it’s been tough trying to make ends meet with the increased expenses and lower earnings. I hope things get better for you soon, and know that you’re not alone in this. Many of us are in the same boat, trying to get through these tough times. Hang in there.

[Brielle Buckler]

Thanks for sharing your own experience, Aboubacar. This helps us understand how different aspects of the economy affect people on both sides of transportation — drivers and passengers!

[Amr Taha]

Article: “Rising Rent Prices and Housing Demand Affecting Students and Full-Time Workers”
This article talks about how rent prices are going up and how it’s becoming harder for students and full-time workers to find affordable apartments. The housing market is doing very good business. And more people are looking for rental places, making it hard to find affordable options.As a student working full time, I’m directly impacted by the rising rent prices. It’s getting challenging to find a place that fits my budget, so I can give more time to my school.

Factors Influencing Supply and Demand: The demand for rental apartments is going up because more people are moving to the area for work and school. At the same time, there aren’t enough apartments available, which is driving up rent prices. Some property owners are also selling their units instead of renting them out, reducing the number of affordable apartments. Economic factors, like low mortgage interest rates, are also making more people choose to rent, adding to the demand for rental units.

URL:(https://www.nytimes.com/2022/07/26/realestate/nyc-apartments-covid-discount.html)

• This reply was modified 1 year, 8 months ago by Amr Taha.
• This reply was modified 1 year, 8 months ago by Amr Taha.

[Rotem]

Hi Amr!

Thanks for bringing up the rent problem that students and workers face. I can also relate to your feeling as a student working full-time. Things like property sales and also the fact that the pandemic has terminated the market prices have been raised dramatically.

[Aboubacar Traore]

Hello Taya

I agree with you about the affect of the rent on your daily life, it is one of things that affected me right before Covid-19 till now. as a full time student, it is very challenging to handle the rent expenses with others stuffs. Thank you for your brilliant idea.

[Tamala Jones]

Hi Amr,
I enjoyed reading your post and can understand where you are are coming from being a student and working at the same time is a lot already and it’s still so difficult to find affordable places where the rent is within your budget. I think this topic was a great idea to talk about because it’s something many students can understand or relate to overall I think you did a great job with this post.

[Jacob]

First off, very great source, and second I agree with the increase in rent prices going through the roof, making a place like New York City one of the most expensive states to live in, only to get a small room, a narrrow kitchen and a mini fridge and pay $2,500 for it.

[Carinah]

I totally agree with you, it has become way more too expensive to live in NYC. At times it could get frustrated looking for affordable apartments and having to focus on every day life. For this very issue “lack of affordable housing” there is a lot of people migrating from NYC BECAUSE OF THIS VERY ISSUE. I believe there are apartments that are available but only the minority get in or people in the shelters are getting first preference.

[Brielle Buckler]

Thanks for sharing, Amr. I think one of the factors influencing higher rent prices is the amount of rental income landlords lost during COVID-19, when many renters fled NYC. Now they’re increasing rents to try to make up for those losses.

[Nanyamka Mead]

This Article is about the lack of workers in the childcare. Childcare is always in high demand especially since the rise in pregnancy during Covid. In this article it explains that the child care industry does not pay enough to their workers. And that often leads them to be behind in their Own bills. Child care is vital especially for me because I am a student and a mom, I gave birth during the pandemic and going back to work has been a hassle. Their are so many barriers you face when searching for childcare. There are so many childcare centers that are over filled with children and are short staffed most of them have a waiting list that can take months for you to even get selected . That can delay you in securing a job. It often puts you in a position to find childcare to far from where you live which adds hours on your commute. Making it almost impossible to be on time for work.

 

 

 

https://abcnews.go.com/US/child-care-industry-struggles-shortage-workers-unheard/story?id=91701041#:~:text=Low%20wages%20drive%20staffing%20shortage%2C%20experts%20say&text=Many%20day%20care%20teachers%20want,center%20directors%20told%20ABC%20News.

[Briana Lima]

Hi Nanyamka,

I resonate with this post. I am also a full time working, student and mom. I also gave birth during the pandemic and when it was time to find a daycare to enroll my first daughter in, the process was daunting! They are either too expensive or too full. I do agree that childcare is always high in demand and they definitely should be paid more. But like we’ve read, because of the scarcity of available childcare centers, that is why the tuitions are so high. They know people need childcare and will pay for it.
The job they do is often a thankless job; caring for babies and toddlers for eight hours(sometimes more for parents who work more than eight hours) is no easy feat. Because of my knowledge of them likely being underpaid, I go out of my way during the holidays and for their birthdays to gift them monetarily and with meaningful tokens of appreciation. Hopefully more people go into the childcare industry, so this problem can be addressed.

[Carinah]

I agree with you totally because having a young child living in NYC with everything being very expensive, the cost for daycare is extremely high. I sorely believe teachers and daycare worker don’t get enough funding and credit. Being in this FIELD you have to truly love it and do it for a passion. Us as parents find it hard when it comes to choosing a great childcare facility because we have to factor in all the possibilities : Are they being taking care of probably?
Are they being kept safe?
Are they being clean?
Are they being fed probably?
So yes, choosing the right daycare is a lot of strain in decision making.

[Rasheeda Noel]

Sadly, the reason that many childcare workers are leaving that field of work for a long number of reasons. The only thing i can do as of now is to provide my personal reasoning and my friends’ reasoning for the lack of desire to continue working in childcare. In my perspective, many positions only pay a small amount in an hourly rate, but jam 30+ students in a classroom. Many facilities are low staff in result of Directors and Supervisors having terrible management skills. At times, there can be moments where employees aren’t receiving support and may be over worked. Plus some employees and parents may have more than one job, this can lead to “burning out” over time. Based on what I learned, many of my coworkers have experienced children attempting to attack them after figuring out that the employees closest to them don’t get protected by their employers. With that being said, Even though i loved those children like my own i have had to step away from the profession.

[Brielle Buckler]

This is an excellent topic to share, Nanyamka. Childcare in other countries is a guarantee by the government, but in the US, it’s often privately owned and the costs can be more than parents make by working! Here’s an article about childcare in Denmark, which kind of makes me think that parents there might have a much easier time of working and managing a family.

 

https://www.scandinaviastandard.com/outside-in-exploring-childcare-in-denmark/

[Nanyamka Mead]

I will agree that the rising of food prices has had a major impact on my life. It makes it impossible to even fill your pantry at times because picking up four items can equal to 100$ very quickly. Even when you try to go the inexpensive route , there is not much you can do especially when you are trying to eat healthy.

[Brielle Buckler]

Next time, click “Reply” in the box of the comment you’re trying to respond to so that your comment is nested under the post please!

[Nanyamka Mead]

Finding an apartment in NYC is very overwhelming. And I every time I hear someone complain about this issue I immediately empathize with them , I remember searching for almost two years for an apartment and ultimately having to settle for a basement apartment which was small and not worth the price. The cost of living is definitely realistic.

[Ingrid]

Why Is Amazon So Successful?

So the article i choose talks about how Amazon has impacted many people around the world . This company impacts my daily life because when I need to purchase items I can always rely on Amazon , I also don’t have to go out and purchase it in person which can be difficult for people who are constantly occupied. Factors that are influencing supply and demand is that amazon is convenient, affordable and efficient which is why many people rather purchase from amazon than go to a store in person .

[Jacob]

The truth is said, I agree. Being a person that relies on Amazon as well is very helpful in many ways, yet I still like to get in some exercise and go outside but it can be a stress when a store doesn’t have the item you are looking for, also very interconnected source.

[Mahir Khan]

Hi Ingrid,

I definitely agree with you on the fact that Amazon has a great impact on many of our lives, including my own. I do many of my shopping from amazon, and it does help me to get stuffs right on my door, when I have a busy schedule doing something else. And with so many people relying on amazon to get everyday items, the company always has a high demand from their customers. And therefore, many of Amazons products are relatively cheaper compared to what you’d get from a local retail store.

[Rasheeda Noel]

I agree as well. Amazon is one of the first trustworthy online sales businesses and it sets a big standard for other online businesses. They have also gave the direct product ordered without and issues for a longer amount of time. Thankfully, they provide constant service in a short amount of delivery time. Unlike small businesses, Amazon provides return services that are easy to access everywhere without any additional hassle.

[Brielle Buckler]

Ingrid, I agree — Amazon is very successful. How does this relate to our discussion topic of supply & demand?

[Carinah]

The New York City Metropolitan Transportation Authority (MTA) plays a crucial role in my daily life as a commuter. However, over the years, the MTA has faced financial challenges, leading to frequent fare increases. This article examines the effects of rising NYC MTA fares on the average rider and explores the implications for public transportation accessibility and affordability.

The NYC MTA’s fare increases have significant ramifications for the average rider. Affordability and accessibility of public transportation are essential for maintaining a thriving and equitable city. It is crucial for policymakers to consider the social and economic implications of fare hikes and explore sustainable funding solutions that do not disproportionately burden commuters. By investing in public transit and addressing fare affordability, NYC can foster a more inclusive and accessible transportation system that benefits all its residents.The fares would increase 15 cents from $2.75 to $2.90.

• Financial Strain on Commuters:
• As MTA fares rise, the financial burden on a rider increases significantly. For many low-income and middle-class commuters, these fare hikes consume a larger portion of my disposable income, leading to reduced spending on other essential needs. As a frequent rider, daily commuter, I feel the pinch even more as I spend a considerable portion of my income solely on transportation.
• Limited Mobility Options:
• Higher fares may force some riders to seek alternative transportation methods, such as walking or cycling, which might not be feasible for longer distances or during adverse weather conditions. This limited mobility affects the ability of individuals to access employment opportunities, educational institutions, and vital services, particularly for those living in areas with inadequate public transit options.
• Socioeconomic Inequality:
• Fare increases exacerbate existing socioeconomic disparities. Lower-income individuals, who often rely heavily on public transportation, are disproportionately affected. The increased financial strain on this demographic can perpetuate a cycle of poverty, hindering their ability to escape economic hardship.
• As fares rise, some commuters may choose to forego public transit altogether, opting for private vehicles, ride-sharing services, or informal transportation options. This shift can lead to increased traffic congestion, environmental pollution, and higher gas prices.
• Rising transit costs can impact local businesses by reducing foot traffic and customer spending. As a commuter allocate more funds to transportation, they may have less disposable income to support local businesses, especially those located near train station.

  Here’s the link to further explain my article: http://new.mta.info/transparency/mta-fares-tolls-2023

[Hamidou]

MTA said they lose nearly $300 million dollars a year to fare evasion. I feel that if they solve this issues there wouldn’t need to be an increase in fare prices. This can also increase their revenue.

[Carinah]

So true. If other place can make it work and not have to increase fares drastically with better service and clean train I believe that the MTA can. A lot have to do with miss handling the funding.

 

[Brielle Buckler]

Subway fares keep getting higher, and there’s not a good alternative, so many of us just pay the fees. Here’s an interesting article about why subways should be free for everyone:

CityViews: The New York City Subway Should Be Free

[Jingtong]

In my daily life, social media makes me very inefficient. I don’t deny that social media has brought many benefits to our lives. For example, to learn about events happening around the world, to stay in touch with distant family members or just to get more fun. Social media is high demand among the masses. The platform will continuously push products of interest to potential customers based on algorithms. So, when I’m studying, if I see a promotional information about a product I like popping up on my phone, I will be drawn to it and addicted to the website. So, if I addicted, my entire day will be inefficient. The website is about research and solutions related to social media addiction.

https://www.calstate.edu/csu-system/news/Pages/Social-Media-Addition.aspx

[Amr Taha]

Hi Jingtong!

I understand how social media can be both helpful and distracting. Finding a balance is key. Consider using apps to limit social media during study time.

[Brielle Buckler]

I can see why you’d be more interested in purchasing a product if you kept seeing ads…but how does this article/concept relate to supply/demand?

[Mahir Khan]

Article: Why are egg prices going up?

I would like to discuss about why egg prices have gone up since early of last years, the factor that affected the supply and demand of egg production, and how that affected my daily life.

So, back in late 2021 when I used to buy hen eggs, especially white jumbo eggs from the retail store, the price was around $1.50 a dozen. Then suddenly around early 2022 the price of the jumbo eggs jumped to $2.50. And it wasn’t just jumbo eggs, all sizes of eggs had an increase in price. The price hike suddenly put a huge strain on my budget. I used to have two eggs for breakfast, but after the price hike I started eating one egg daily. Slowly i started decreasing the number of eggs I bought in a week. At one point I inquired about why the egg prices were going up, found out that there was an outbreak of a deadly avian flu, which started around February 2022, which was killing off egg laying hens. And this put a constrain on the supply of eggs. Since the demand for eggs remained pretty much the same, while the supply of eggs decreased, prices increased dramatically over a short period of time.

https://www.cnn.com/2022/12/27/business/egg-prices/index.html

[Tamala Jones]

Hi Mahir,
Great post, it is very informative! I also agree with you since I also have seen an increase in eggs as well as other groceries when food shopping since inflation has continued to rise.

[Brielle Buckler]

Eggs, like many other groceries, continue to cost more. Eggs and milk are excellent gauges of how much prices are rising. Thanks for sharing!

[Allan Pinedo]

I have chosen the article  “why some shoes are so expensive” because I enjoy collecting shoes, playing basketball and volleyball. It talks about the various elements that go into the high costs of specific shoe brands and models. My daily life is directly impacted by this topic because I am constantly searching for high-performance basketball and volleyball shoes, and understanding the factors that affect their costs enables me to make wise decisions about which shoes to purchase. The popularity and reputation of the brand among athletes, sneakerheads, and the general public are potential factors that could affect the supply and demand of these shoes. Collaborations with well-known athletes or limited edition releases may also increase demand and raise prices because of scarcity. Aside from these factors, the price of premium athletic shoes may also be increased by improvements in shoe technology and materials, high labor costs, and other factors. As a result, the supply and demand dynamics in the athletic shoe market are driven by the intersection of sports culture, fashion, and performance.

Article:https://lifestyle.howstuffworks.com/style/bags-shoes/shoes-expensive.htm

[Brielle Buckler]

Great example, Allan! Hype is one of the main driving factors of demand increasing. It’s why new sneaker drops attract lines around the block and why you can resell Nikes for thousands of dollars.

[Tamala Jones]

When I think about something that affects my daily life as well as many others I always think about inflation and wages. An article by Maryalene LaPonsie called “Wages Vs.Inflation: Can Your Income Keep Up With Rising Prices?” Talks about how minimum wages fail to increase and prices continue to rise. Ever since Covid-19 inflation has continued to rise and everything has become more expensive. Especially our everyday needs from food and groceries to rent. This affects my daily life as well as many others because even though inflation continues to rise many people’s wages remain the same including mine. If a person is getting paid minimum wage while still having to buy basic life necessities that have become so expensive and their cost of living exceeds the amount that they make, that means that they most likely struggle to afford other things that they want or other necessities and that is why I find the topic of wages and inflation very important because I believe wages should increase due to the high inflation but especially with the time of how long someone has been on the job.
Here is the link to read the article- https://www.forbes.com/advisor/personal-finance/minimum-wage-vs-inflation/

[Amr Taha]

Hey Tamala!

I totally agree with you on how inflation and wages impact our daily lives. It’s frustrating when prices keep rising, but our wages stay the same. I read the article you shared, and it’s eye-opening how many people, including you and me, face this challenge. I hope things improve soon, and employers start recognizing the need to increase wages with the rising costs. We all deserve a fair income to cover our basic needs and still have some left for things we enjoy.

[Brielle Buckler]

Tamala, you’re spot on with this example! Wages aren’t keeping up with inflation — and it’s a real problem. Thanks for sharing.

[Williams Paul]

The thing I use every day is my Apple iPhone, I use it every day for uber eats ordering cabs and even to pay at the store with my apple wallet card even tickets I used to go to games or the movies are on my phone, the article I will be showing you is how the apple wallet helps a lot of people in life. if you lose your card or decide not to bring your card outside of the house you don’t even have to worry about it you could always use your card for it, apple charges a lot for fees like apple music fees even to add more storage on your phone, and for the apple card there fees is insane but since it was accessible it’s worth the trouble

https://www.apple.com/wallet/

[Brielle Buckler]

Please pay attention to the prompt — this is not related to supply and demand.

[Rasheeda Noel]

“The problem is acute in New York City, where <b>73 of every 10,000 people lack a home</b>.”

In todays moments of NYC and NYS there is a large homelessness issue. Sadly, with the new Mayor of NY there has been a fight against homelessness, but not a fight against the struggle of finding housing. As most people are aware, homelessness isn’t absolutely impossible to stoop from happening. On a daily basis i witness individuals scrap together change in the streets from a perfect stranger. While seeing this, I assess my surroundings. Most times we are around luxury apartments, or recently renovated buildings  that are mostly empty. I find it quite odd that during the pandemic hotels were required to provide housing to the homeless, but now that the illness is mostly over people have been shoved back on their streets again. It’s quite frustrating because the people that are supposed to assist us with these issues in local neighborhoods have once again turned their backs on citizens of New York.

Housing issues NYC

[Brielle Buckler]

This is such an interesting topic, Rasheeda. Housing is one of those elements of life that we think should work out for everyone. Why are there people sleeping on the street while there are empty apartments? Unfortunately, our housing crisis needs solving — and it defies supply and demand in many ways. An interesting issue. What do you think we should do to help resolve it?

[Author]

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