- Download and review the Ch03.ppt PowerPoint file.
- View the following media:
- Then examine your own workplace or some other organization with which you are familiar and determine how it seeks to increase demand for its product.
- Navigate to the threaded discussion and post an entry that answers the following questions:
- How do firms attempt to stimulate demand (shift demand outward)? Defend your answer with a detailed evaluation that demonstrates clear, insightful critical thinking.
- If a firm successfully builds brand loyalty for its products, what happens to the elasticity of the product? Hint: Think about consumers’ views of substitutes. Defend your answer with a detailed evaluation that demonstrates clear, insightful critical thinking.
- Your initial response should be 400 to 600 words in length and include two academic sources that are properly cited. It is due by the end of the fourth day of the workshop.
1. Supply and Demand – https://media.pearsoncmg.com/pls/products/coco/intro_economics_ap/1256910732/presentations/bu_ie_02_splash.html?fromLms=true