Article Analysis 6

1110 Words5 Pages
In today 's society, the rush of supply and demand runs the ever-living world that many people call home. It runs so well that many have found ways to use this tool and create a mountain of riches that most will never see. To understand this mountain and incorporate a successful plan, society needs to understand how this mountain was built. It begins with a covering known as economics that leads to a multitude root system known as microeconomics only to be fed by the morsels of supply and demand. Though what seems simple in building this mountain, many factors exist waiting for their chance to cause destruction. However, to understand our quest to the top, consumers must understand the clues that are defined as economics,…show more content…
The Internet has also changed the way students learn. Online classes are more readily available compared to several years ago. By means of online classes more adult students pursuing higher education are able to make that dream become a reality. Students attending online classes offer different viewpoints with fellow students and are able to communicate without feeling that a correct answer needs to be given. Of course the Internet brings lots of competition among retailers, which affects the supply conditions within an industry. Companies overseas are able to place their products on the net, which in return expands their market, and therefore sell to a larger area this causes force of lower prices and creates a greater incentive for sellers to set apart their products or services. The article emphasized on how changes in information technology can influence supply conditions in the market with the following example, Encyclopedia Britannica. Encyclopedia Britannica at one point was a very expensive set of research books that parents would purchase to help their child 's education, however now with the internet available with many "free" online encyclopedias, Britannica has had to market their product other ways. They now have a CD-ROM available, which contains things such as video clips, audio clips, and pictures. This new Britannica format is less expensive as the books. The Internet offers so many different things to many different people.
Open Document