Analyze how the law of demand applies to a recent purchase that you made. Describe how the product
has changed in price and explain whether the price change is due to supply or demand. Did the change
in price affect your decision to purchase the item?
Using the Circular Flow diagram, and comparing it to the current Economic statute, Id say not
much has changed. Using the logic explained the text that households are the consumers and Firms are
the providers, EVERYONE is a consumer. From households and s