Chapter 3 discusses supply and demand. In 2020, the world experienced a Covid19 pandemic. With respect to supply and demand, please give a specific example where a supply and demand were impacted by the lockdown that occured in the state of NJ. What impact did it have on the price of that good or service? What alternatives were available to avoid purchasing that good or service? How do you think that good or service will perform when the country moves past the pandemic and resumes normal activity?
