Supply & Demand

Supply & Demand - Supply & Demand On the Farm,...

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“On the Farm, Chickens Come Home to Roost” by Karen Richardson “Flat-Panel TVs, Long Touted, Finally Are Becoming the Norm” by Evan Ramstad Though price serves as the principal variable of interest in general market interactions, there are other factors that play various roles in the supply and demand of a product or service. The articles “On the Farm, Chickens Come Home to Roost” by Karen Richardson and “Flat- Panel TVs, Long Touted, Finally Are Becoming the Norm” each discuss the factors that affected the supply and demand of poultry and flat-panel televisions, respectively. As discussed in the articles, the main alternative factors that altered the supply included the prices of resources, the number of producers in the market, and future expectations. For demand, the primary alternative factors discussed included consumer taste preference and the price of substitute goods. Just as price fluctuates based on outside forces, so do the alternative factors affecting supply. In Karen Richardson’s article, it is noted that in 2004 chicken feed prices were lower due to bumper harvests, but a drought in 2005 led to less corn production and therefore higher fee prices for 2005 and 2006. The increase in the price producers had to pay for feed resources resulted in a decrease in supply. Then again, Evan Ramstad’s article discusses how an increase
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Supply & Demand - Supply & Demand On the Farm,...

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