Government Home Quarantine Orders Discussion

Upload an internet article from a reputable source that discusses or is based on one of the market situations that are listed below:

1. A particularly elastic or inelastic market
2. A market where the price elasticity of demand has changed because of recent events
3. A market that is rationed

Don’t just post a link- you must upload either a screenshot, pdf or word version (you can copy and paste from the internet).

This assignment will be marked as complete when you submit the article.

Once you’ve posted your article, post a comment in the Week 2 Current Events Discussion Board. The comments should follow the below based on what market situation your article references:

1. A particularly elastic or inelastic market: Name whether the market is elastic or inelastic and what in particular is causing the market to be that way (e.g., The demand for lifeline helicopters is very inelastic. When the helicopter is the only option other than death, consumers are willing to pay whatever price).
2. A market where the price elasticity of demand has changed because of recent events: Briefly describe what caused the market to change and whether this made demand more elastic or less elastic (e.g., During the pandemic, consumers were willing to pay a lot more than usual for hand sanitizer. Thus the demand for hand sanitizer became less elastic).
3. A market that is rationed: Briefly describe how the market is rationed and how that affected the market outcome (e.g., During prohibition, alcohol was declared illegal. There was still a demand for the product, so suppliers set up a black market where consumers could buy alcohol at a higher price under more high risk circumstances).

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After you’ve submitted an article as described in Week 2 Current Events, create a post that explains the topic of your article as noted below based on your article type:

1. A particularly elastic or inelastic market: Name whether the market is elastic or inelastic and what in particular is causing the market to be that way (e.g., The demand for lifeline helicopters is very inelastic. When the helicopter is the only option other than death, consumers are willing to pay whatever price).
2. A market where the price elasticity of demand has changed because of recent events: Briefly describe what caused the market to change and whether this made demand more elastic or less elastic (e.g., During the pandemic, consumers were willing to pay a lot more than usual for hand sanitizer. Thus the demand for hand sanitizer became less elastic).
3. A market that is rationed: Briefly describe how the market is rationed and how that affected the market outcome (e.g., During prohibition, alcohol was declared illegal. There was still a demand for the product, so suppliers set up a black market where consumers could buy alcohol at a higher price under more high risk circumstances).