Question

• Think of a relevant example in your own life of how a change in the market (including information, preferences, technology, price of alternative goods, regulations, taxes, etc.) has shifted either the supply or demand of a good. How did this change affect the market equilibrium for that good or service? Explain.
• Next, find a relatively recent news article (within the past year) to support your finding (the news search feature in Google is helpful with this). If you cannot find an article specific to your example, you may find an article about another similar good or service.

Answer 1

ANSWER:

For instance let us consider the good Blackberry Smarphones, where the use of these mobile phones had been decreased.At some point of time in the smartphone market blackberry possess 50% of the shareas of USA and also 20% share throughout the world. Below are the reasons why the blackberry product had been vanishes and also it's demand got decreased.

-->They failed to provide new features: As the rise of android and iphone touchscreen technologies throughout the world, This became a disadvantage to the blackberry as they haven't updates and continued producing keypad phones. Many people preferred touch screen as it gives a larger screen size also with less space. Also the blackberry's software wasn't that smooth as apple ios or android. Eventhough, the blackberry introduced smart phones their software wasn't successful.

-->They focused on enterprise rather than the customers: Blackberry failed to attract the people throughout the world as the ios or android does. They made their mobile phones affordable to all sort of people but the blackberry just concentrated on building thier business on the corporate and IT world.