Consumer Decision-Making
The Course Data File contains the Product for this assignment. The product is Sriracha.
Research the product from an economic standpoint (include supply and demand, cost). Describe what has been happening in the product market over the last year or two. Find a balance between explanations, data, and statistics provided. You must decide what information should be included in this section. This section must be 1 page in length. (Research Required)
Next, discuss trends in the CPI during the same period. Analyze underlying reasons for changes in the overall Consumer Price Index and how inflation, income, unemployment, or other economic events are affecting the numbers overall and in the product category. This section must be 1½ pages in length. (Research Required)
Following up on what you learned last module, how is consumer behavior changing concerning the product discussed? What other products would be impacted by consumers economic decisions? This section must be 1 page in length. (Research Required)
As a conclusion, analyze how businesses reacted to changes in consumer behavior. Explain it is using economic terminology. (Research Required). This section will be 1/2 page in length.
No quotations are permitted in this paper. Since you are engaging in research, be sure to cite and reference the sources in APA format. NOTE: failure to use research with accompanying citations to support content will result in reduced scoring Level 2-Developing across the grading rubric. This is a professional paper; not a personal one based on feelings. It must be written in the third person; this means words like I, we, and you are not appropriate.
