Supply and Demand - Supply and Demand Supply and demand...

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Supply and Demand Supply and demand play a major factor when it comes to goods and services. One good that I have had an experience with was purchasing a new car. With my old car there was an issue with it every month which caused me to put out a lot of money. It kept breaking down and even though I owned the car the amount I was spending in repairs was equal to a car payment. After, a lot of thought I decided that purchasing a new car would be the best decision because I would not have to worry about it breaking down and if it did I would have a warranty to cover myself. Even though I made up my mind to purchase a new car there were a lot of factors that I had to consider. The most important decision was on what type of car to purchase and the amount that I was willing to spend. I started the process in the year of 2008 which was when the recession was starting and gas prices were at a high. Since fuel prices raised the demand on automobiles decreased. Demand is the relationship between the price of a good and the quantity of the good that
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This note was uploaded on 05/29/2011 for the course POS 110 taught by Professor Britt,j during the Spring '10 term at University of Phoenix.

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Supply and Demand - Supply and Demand Supply and demand...

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