Discussion Topic Economics affects nearly everything we do
in some way. Someone else has produced
most items we consume, or use, in our daily
lives, from food to clothes to music to gas for
our cars. Chances are, when we purchase
these daily items, we don't question the
price with the producer. But in the United
States, the interactions between the
consumers and producers determine quite a
lot in terms of business and economics.
Think about the items and services that you
and your family buy or consume. What
causes you to pay the prices that you do for
these goods and services? What determines
the price that's on the price tag? What goes
into determining, or setting, that price?
Consider all the possible elements that could
influence the prices you pay.