Research an example of an item with decreasing supply and increasing demand that occurred in the United States within the last five years. What caused the supply of the item to decrease? When demand increased, what happened to the price of the item? What is the current status of the supply and demand of the item?

Research an example of how decreased market demand for a product has affected its price. Prepare a short talk about the product. Answer the following questions as you prepare: Why did demand decrease? Did the product become unnecessary or obsolete? Did the producer or its competitors offer a newer or better version? How did sellers try to increase demand for the product? Deliver your findings to your classmates. As you speak, be sure to make eye contact with your audience, speak audibly, and pronounce each word clearly.

Explain the law of supply in your own words.

Why do employers have a natural advantage in bargaining with employees?

Based on the last paragraph, explain how Santha resolves her conflict with the headmistress.

Calculate the molar solubility of

$$Ni( OH)_2$$

when buffered at pH 12.0.

How do government regulations affect supply and demand?

In a paragraph, explain how a government regulation to increase bicycle safety might affect supply and demand. The new government regulation requires bicycle manufacturers to put a chain guard on bicycles they make.

Would that affect the supply of bicycles? Give reasons for your answer.

How does the way a product is produced affect the elasticity of supply?

How might a producer of bicycles adjust quantity supplied when prices decrease?

How can the most profitable number of workers to hire be determined by the stages of production?

Make a list of three items you or members of your family purchased in the past week. Using what you know about demand elasticity, write a paragraph about each item to explain whether your demand for the item you purchased is elastic or inelastic. Explain whether or not there are adequate substitutes, whether the purchase might have been delayed, or whether the purchase used a large portion of your income.

Select a product that appears in a newspaper or online ad of several different stores. Note the various prices and indicate whether any of these prices are sales prices. What does the information tell you about the equilibrium price of the product you selected? Write a paragraph explaining your answer.

Craft unions have typically been most effective in raising wage rates by:

a. decreasing the demand for labor.

b. decreasing the supply of labor.

c. increasing the demand for labor.

d. increasing the supply of labor.

What might happen to make a producer decrease the supply of a product?