American Intercontinential University Price Elasticity of Demand Discussion

Question Description

Assignment Details

Price elasticity of demand measures consumers responsiveness to changes in the price of a good. There are a number of variables that affect consumers decisions, among them the following:

The availability of substitutes
The specific nature of the good
The percent of the income spent on the good
The time consumers have to buy the good

Please draw on your experiences as a consumer and your Unit 2 readings to address the following 4 topics. Make sure you use economic concepts in your main contribution.

Choose a product that you have purchased in the past 13 months from a clothing or shoe store.
Describe how each of the 4 factors listed above contributed to the elasticity of the good.
Is the demand for the product considered elastic, inelastic, or unitary elastic?
What effect does the current supply and current demand have on this product?

In your own words, post a response to the Discussion Board, and comment on at least 2 other postings. You will be graded on both level of engagement and the quality of the contribution to the discussion.

Discussion Board Reminders:

Must have three posts: A Main Post and two replies to peers.
- First post: Either your main post or a reply to others must be posted before midnight CT (Central time) on Friday of each week.
- Second and third post: Must be posted on a different day from the first post.
Connect to Content: At least one post must refer to course learning materials. See the Academic Resource on Discussion Boards for help with connecting to the content.
Engaging in Class Discussions: For more information on making the most of your class dialog, review the Academic Resource on Discussion Boards.

Grading Rubric

Assignment Criteria	Proficient Descriptor	Points
Quality of Main Post 27 Points Total	Students main post meets or exceeds the following requirements Responds completely to all of parts of discussion question. (7 points) Communicates content information accurately and/or logically (7 points) Delivers a thoughtful response demonstrating insights and reflections (7 points) Connects to both key content concepts and personal experiences (6 points)	/27 pts.
Response to Peers 24 Points Total	Responds to a minimum of 2 peers. (12 points per response) Substantive response (6 points) Furthers the conversation with peers. Examples could include: (6 points) Provides additional resources Connects to key concepts Shares personal or professional experiences Contributes new information or perspective Presents a competing viewpoint	/24 pts.
Support from Learning Resources 4 Points Total	At least one post refers to course learning resources.	/4 pts.
Professional Writing 5 Points Total	Response is well-organized, clear and free of grammatical and mechanical errors. Posts demonstrate courtesy and respect for others.	/5 pts.
Total		/60 pts.

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