Listed below are possible discussion topics for this module, but if you have personal experiences or examples that relate to the topics presented in the assigned readings, please feel free to add those to this discussion as well. In developing your thoughts and opinions here, please look to incorporate citations and statistics both from the textbook and other outside sources. Lastly, let’s always remember to keep these discussions civilized and respectful, even when we disagree on certain topics.
Module 2:
1.Do you always buy the brand name product? Why? Are you willing to substitute lower price generic products?
2.As consumers do you feel that the law of demand holds true? In what cases might there be exceptions and how does this tie in with the ideas of elastic and inelastic demand?
3.In our mixed economic system, who really establishes prices? Producers or Consumers?
4.In what markets do you see the need for price controls? Better yet, what markets do you wish there were price controls?