Tesla's new electric cars are making noise in the media as they are creating in increase in demand for green efficient transportation. Research an article on how the social influence from companies, such as Tesla, are impacting consumer decisions. How should the government react to these changes in consumer demand; changing the laws or letting the competitive markets determine if a company's impact on the supply and ultimately demand for certain products should be allowed.
Tesla's new electric cars are making noise in the media as they are creating in increase in demand for green efficient transportation. Research an article on how the social influence from companies, such as Tesla, are impacting consumer decisions. How should the government react to these changes in consumer demand; changing the laws or letting the competitive markets determine if a company's impact on the supply and ultimately demand for certain products should be allowed.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Tesla's new electric cars are making noise in the media as they are creating in increase in demand for green efficient transportation. Research an article on how the social influence from companies, such as Tesla, are impacting consumer decisions. How should the government react to these changes in consumer demand; changing the laws or letting the competitive markets determine if a company's impact on the supply and ultimately demand for certain products should be allowed.
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The entire number of buyers and sellers in a given area or region is referred to as the market. The region can represent the entire planet, as well as certain states, provinces, or cities.
Items traded are valued, costed, and priced in accordance with market forces of supply and demand. The market could exist as a physical or a virtual entity. It might be local or universal, perfect or imperfect.
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