Week 2 Short Essay.docx - Today we will focus on how a a few things within our economy can change supply price and quantity Of course not all of these

Week 2 Short Essay.docx - Today we will focus on how a a...

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Today we will focus on how a a few things within our economy can change supply, price and quantity. Of course, not all of these things get affected equally, it is based off the situations that cause the change to happen. When things like new technology come into play immediately, we think of what this technology can do. Normally these things tend to make things easier for use and allow us to provide products with little to no error, but the effects it has on the market is different. In the case of finding new ways and technology to pick peaches, this would allow farmers to get more of their product faster and provide these to the masses for a lot cheaper than previously priced. Essentially Immediately their supply would not go up, but the price would drop and causing the quantity sold to increase. They then may have more resources to grow more trees in hopes of producing more peaches or other fruits.
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  • Spring '14
  • Euculano,J

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