“Supply and Demand”
From the scenario for Katrina’s Candies, examine the key factors affecting the demand for and the supply of a good in general and Katrina’s Candies specifically. Distinguish between a change in demand and a change in the quantity demanded (movement along the demand curve). Propose two (2) methods in which organizations that provide the good may utilize this information.
There are four parts to the Week 1- Discussion Thread, namely,
1) Examine the key factors affecting the demand for and the supply of a good in general and
2) Examine the key factors affecting the demand for Katrina’s Candies specifically.
3) Distinguish between a change in demand and a change in the quantity demanded (movement along the demand curve).
4) Propose two (2) methods in which organizations that provide the good may utilize this information.
Please answer the questions in a chronological order.
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