Pick a product or service you use in your everyday life and describe the market for this product. Please make sure to address the following questions:
- What factors influence the demand for this product? What factors influence the supply of this product?
- How have these changes in supply and demand affected the equilibrium price of this product?
- Do you anticipate any changes to the demand and/or supply of this product in the near future? If so, what is driving these changes?
Complete this essay in a Microsoft Word document in APA format. 3 references and in text citation
Sugar is an example of the products I use on a daily basis. I use sugar in my cup of tea every day. The demand for sugar in the current world is influenced by different factors. One factor that influences demand for sugar is the healthcare regulations. In the current world, sugar has been linked to health effects like diabetes, teeth decay and obesity. Since people are becoming more health conscious and the aspect of people becoming….