Narrate a situation where you had to face a demand and supply situation, for instance during...

Narrate a situation where you had to face a demand and supply situation, for instance during Black Friday. How did you modify your normal shopping behavior given that merchandise may be deeply discounted, but the quantity available at the discounted price is highly limited? At least 200 words. Thank you!

Expert Solution

Mechandise may be deeply discounted which means that there is high quantity demand . Due to discounts people will demand more . Since here change in quantity demanded occurs due to price change only so there will be only movement along the demand curve . Quantity available at discounted price is highly limited , which means that this further aggravates demand . In such a situation a consumer changes shopping behaviour by selecting best possible goods available at discounted price . Such deals are created to entice consumers and usually helpful in stock clearance . Normal shopping behaviour changes as customer rush to avail the best products in discount before the limited stock is finished . Consumers show a competitive nature in shopping in such situation due to such high demand and limited supply .

Rahul Sunny answered 2 years ago

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