2nd post for Week 4 - food then we do gas. Factors like...

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Antonio brings up a great point, when it came to the gas prices going up quality did not play a role. I actually wonder how many people, who would have normally put in a premium gasoline, settled for a lower grade just to save on the cost. I think a lot of what factors in to price being so important to consumers are the facts that prices keep going up, but our salaries and wages do not necessarily account for this increase. For example, over the last year many necessities have gone up in price. This includes energy, food such as milk, bread, and eggs, and of course as mentioned before gas prices. An article I found explained that the rise in the cost of food is a bit more concerning to Americans considering they spend an average of three times as much for
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Unformatted text preview: food then we do gas. Factors like this almost make it essential for people to watch prices to make up for the increases even though we are not making more money. Even more depressing is that in trying economic times like we are in now things are even more difficult for consumers. For example, many households are used to having two incomes; however there are so many people being laid off that they are now having to rely on only one income to pay the increased prices in food, gas, and energy. http://www.boston.com/business/personalfinance/articles/2008/03/09/surging_costs_of_groceries _hit_home/...
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This note was uploaded on 03/26/2012 for the course MM522ON MM522ON taught by Professor Vincent during the Spring '10 term at Keller Graduate School of Management.

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