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Weekly Reflection - Module 01

Weekly Reflection - Module 01

Q Reflective writing enables the documentation of our experiences, thoughts, questions, ideas and conclusions that are significant in our learning journey. Each week you will submit a Weekly Reflection within the Canvas course website — a summary of your learning throughout the week pertaining to any of the chapters assigned that week. A minimum word count requirement of 150 words is required for this assignment. That is, all three responses must combine to 150 words or more. Half credit will be earned if the assignment does not meet the minimum word count total, or if all three questions are not addressed. a) What new information did you learn this week which you did not know before? b) What topic from this week is still confusing or “fuzzy?” (If you understood the entire chapter, you must say so, and skip this question.) c) Relate one economic concept to your personal life. Feedback on this assignment will be minimal unless a question in part (b) is posed. PreviousNext

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A reflection of what I have learned this week is about law of demand, demand curves, and charts. I thought that the charts were interesting but still "fuzzy" in my mind on how they actually work. I do not understand how the graphs work in terms of explaining how or what the demand is of a certain product or what people are demanding when it comes to terms of price for the product. However I do know that people are still willing to buy even when the prices of items and good go up. I think the reason why is because since people need the good, they will have sacrifice a couple of goods in order to get the items and products that they need