Write a paper on Demand, Supply, and Inflation. One of the fallout effects from last year’s pandemic is availability of goods for sale, along with prices, shipping delays, worker shortage, etc.
Shortage of labor – businesses are short staffed, which affects production. Does this affect D, S, or both, and how?
Shortage of factors of production – along with labor, production halted or slowed in some areas/industries during the pandemic. We have used up most of our inventories, and now there is a call for increased production. How is this affecting inflation?
As the pandemic lifted earlier this year, people began to spend at a crazy rate, called “pent up demand.” How has this affected inflation and the supply chain, if at all?
What will happen in the future in terms of the effects listed above? Use what you’ve learned about Supply and Demand to rationalize your answers.
As before, your work should be at least a page in length, and a true page! This means if you use MLA formatting where the heading takes up 1/3 of the page, you have to write more to make up for that.
