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Economics homework help

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Consumer Sovereignty states that consumers have the authority to determine what is produced through their purchases of goods and services. Use your current knowledge to answer the discussion.Use APA format Discussion Question Describe an example of consumer”s causing a product to succeed or fail based on their purchases or lack there of. Try to think of something that has occurred around your area. A great example is the success of Apple vs. PC. Check out this funny commerical delivered at the beginning of an Apple conference in 2008: Apple vs. PC Blake I was having a hard time coming up with something to talk about on here and then I realized the obvious. Flip phones are no longer in use because consumers always want faster, better, and more powerful technologies that come out. Smart phones can do anything a flip phone can do plus more. Of course there are some down sides like the price of a new smart phone compared to a flip phone, but a smart phone isn’t just a more powerful phone. It has a compass, GPS maps, music, social media, camera, and so much more. Consumers will always pay for what’s bigger and better. I really think smart phones and flip phones are both great examples of this. Reply Madison Around 2006, Heely’s shoes were extremely popular for elementary and middle school kids. Nearly every student in my school had a pair of these shoes that featured skates on the bottom of them. These became successful very quickly due to the uniqueness of the shoes. However, this trend did not last long. The administration of many schools banned Heely’s due to the fact that it was causing a distraction to students’ learning. The success of the Heely’s Company soon faded because consumers were no longer buying their main product. This is an example of consumer sovereignty because the Heely’s shoes were no longer successful due to the fact that consumers stopped purchasing the product. Reply Keddrick Phone Books The first example of consumers causing a product to fail would be the phone book. I am currently 22 years old and remember back when I was in grade school anytime I wanted to see if a certain store was open or check the availability of an item I had to look that number up in the phone book. In today’s world with technology always on the rise I never see phone books around. I honestly don’t if they are even made anymore. But with almost anything we could ever want to find at the touch of our smart phones the need for telephone books and telephone book companies are not needed. For example, not only can we look up the number for our local BestBuy, but we can also look up the phone number and store hours of every other BestBuy in the nation by scrolling the the screen on our smart phones. Reply YOUR DISCUSSION

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