Marketing Equilibrating Paper
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Market Equilibrating Process Paper
ECON 561
Ceasar B. Hendricks
May 11, 2010
Satish Sharma, Instructor
Market Equilibrating Process 1
Market Equilibrating Process Paper
In order the grasp the overall concept of the market equilibrating process or to understand some of my past experiences, the process must first be defined for clarity. The market equilibrating process is defined “as a situation where the supply of an item is exactly equal to its demand” (Business Dictionary, 2010). The general idea of the market equilibrating process was conceptualized by combining the equilibrium price with equilibrium quantity to yield the balance of a specific or competitive market.
My work experience spans from various industries such as retail, education, disaster housing assistance and consulting which I personally feel have given me an edge in that I have insight from many different perspectives. Even with the many activities that I am currently involved in it is imperative to have balance or equilibrium however, over involvement in activities can cause some form of imbalance in our daily lives.
Over the years I have taken notice how consumers tend to exceed their resources by purchasing unnecessary items to satisfy a want rather than a need. For example the housing market and its downward spiral which has led to foreclosures and consumers losing their homes due to the same banks that approved the home loans. However, the banks cannot take all the blame for this occurrence of events. Also, I must admit the guilt of purchasing items when either the...
ECON 561
Ceasar B. Hendricks
May 11, 2010
Satish Sharma, Instructor
Market Equilibrating Process 1
Market Equilibrating Process Paper
In order the grasp the overall concept of the market equilibrating process or to understand some of my past experiences, the process must first be defined for clarity. The market equilibrating process is defined “as a situation where the supply of an item is exactly equal to its demand” (Business Dictionary, 2010). The general idea of the market equilibrating process was conceptualized by combining the equilibrium price with equilibrium quantity to yield the balance of a specific or competitive market.
My work experience spans from various industries such as retail, education, disaster housing assistance and consulting which I personally feel have given me an edge in that I have insight from many different perspectives. Even with the many activities that I am currently involved in it is imperative to have balance or equilibrium however, over involvement in activities can cause some form of imbalance in our daily lives.
Over the years I have taken notice how consumers tend to exceed their resources by purchasing unnecessary items to satisfy a want rather than a need. For example the housing market and its downward spiral which has led to foreclosures and consumers losing their homes due to the same banks that approved the home loans. However, the banks cannot take all the blame for this occurrence of events. Also, I must admit the guilt of purchasing items when either the...