Blog Post 2

Intro: In this passage, I will be continuing to write about the big decision I made of buying my first car. In the first post, I talked about the factors I reviewed and analyzed, when I was making the decision of buying it. I will be talking about the demand and supply of the vehicle I bought, what the regular prices for that type of car was, and what factors are forcing the demand and supply lines to shift left and right.

Paragraph 1: The first car I bought was something I don't regret. I feel like I got a good deal on it, and despite the opportunity cost I mentioned in the first essay of spending twice as much on the vehicle, I got many other benefits on it. I know the car was selling for more and was a little bit more expensive because of the demand it had. Since it is a fast car, it is high in demand at the moment, and the supply for it is increasing as well with each new model that comes out. I was well aware of this when I bought the Charger, and those were one of the factors that motivated me to buy it. I knew if I ever wanted to sell it, I could sell it for a good price without having to worry about the price diminishing dramatically.

Paragraph 2: The equilibrium price for the Dodge Charger is steady as well. Like I mentioned before, the demand for those type of vehicles are high at the moment, which is causing suppliers to make more of them. That is good for customers because they are more inclined to make a purchase when they learn this. Although there is a lot of competition such as having to choose between other cars, the equilibrium price still seems to be steady.

Paragraph 3: Factors that have been affecting the demand or supply lines to shift are income, changing tastes or preferences in other vehicles, substitute goods, or simply a change in population. As you can see, it is very easy for the demand and supply line to be moved left or right. Lately though, because the demand for the Dodge Charger is somewhat high, the price has gone up as well.

Conclusion: In conclusion, the demand and supply of the vehicle I bought seem to be steady with each other, which is good news for everyone. It is interesting how the economy is run, and learning this new material has taught me to look differently at things when it comes to buy items. Every factor plays a vital role in the economy and can make a huge impact in it.