Question

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Interview five family members or friends. Ask them how many vegetable snack packs they would buy in a seven-day week at these prices: $2.75, $3.25, $4.75, $5.25, and $6.00. Make a table to record the quantities of snack packs they would purchase at each price. Give at least two reasons why you think the price of a product might vary.

Give at least two reasons why a consumer might buy more or less of something depending on the price. Write two paragraphs discussing the relationships between price and demand, and supply and demand.

Ask at least five people of various ages the following questions: Do you believe the economy is in dire straits? Why or why not? What do you see as the outcome of the current downturn? How are you directly affected, and what worries you about the state of the economy? Do you believe it can be "fixed"? If so, how?

Answer 1

Step-by-step explanation:

In other words, the higher the price, the lower the quantity demanded. The amount of a good that buyers purchase at a higher price is less because as the price of a good goes up, so does the opportunity cost of buying that good.