xeco212 week 3 due day 5

xeco212 week 3 due day 5 - technology. The factors that...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
The event that I have chosen to write about would have to be the technology boom of the 1990’s. The reason I have chosen this is because I have lived through the technology boom. In the beginning of the technology boom there was a very high demand for the newest piece of technology such as computers, cell phones, and other different types of technology. The laws of supply and demand state that if there is a high demand there should be a higher supply. The impact on the supply and demand of labor on one sector of the labor market for the technology boom was that everyone wanted a piece of the technology whether it was a computer or a cell phone. The supply and demand were both high to accommodate the people who wanted their
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: technology. The factors that affected both the labor supply and the labor demand was that the supply was not high enough but the demand was very high if the supply was higher then the demand would be even higher it is a never ending cycle. The technology age has only grown more so in the past twenty years there is always new cell phones and new computers coming out and there are even newer items such as mp3 players and even iPods. The higher the demand for new and exciting items the higher the supply will become. There are always new pieces of technology coming out the more they make new things the higher the demand will be for those items....
View Full Document

Ask a homework question - tutors are online