The elasticity and consumer choice theories do apply to the current coronavirus-impacted market for products. During this pandemic many people have lost their jobs thus income elasticity has been a major impact on people’s lives. Some people have not been able to afford medications which are hurting them badly due to the price elastic and/or price inelastic demand. People who desperately need the medication have to buy it regardless of what the price is of the medication since it is pivotal for some people to take certain medications to live due to life and death type of situations. Certain medications as well as other household items have largely increased in prices. Another example is some of the people who were eating organic foods before the pandemic hit have now gone down to eating nonorganic foods instead of organic foods. This behavior change can be measured by how certain stores have increased their prices. The utility of organic foods in my own personal life was pivotal but ever since the pandemic hit, I eat non-organic due to the increase in the cost of certain grocery items. This is an example, of marginal utility since organic foods have either increased in price or been completely sold out at certain stores.
elasticity and consumer choice theories
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Welcome to Alia Khan’s life and professional coaching and mentoring page. A 34-year-old woman who is working on her undergraduate degree in Psychology with a Business Management minor as well as now she is a certified life coach, with a mission to inspire individuals with a language learning disability (LLD) and who is associated with someone who has a language learning disability (LLD) be the best they can be. Even those dealing with a low self-esteem level and low self-confidence level. I can speak from personal experience since I have LLD. I have suffered from it my whole life not knowing why I couldn't read and write. Thus, my family and relatives always thought I was bad, rude, and making excuses not understanding that my neuro pathways work slightly different from the average brain as well as my brain is wired slightly differently due to hypoxia. This simply just means I did not get enough oxygen to my brain during my birth, which is no one's fault. Thus, the left side of my brain has brain damage. Ones I learned what my learning style was I actually gained a level of self-confidence. Plus, in my native culture, they have no awareness of how dyslexia affects an individual. I don't blame them for bullying me I blame their lack of awareness of neuropsychology. I dedicate my coaching business to my mom's teachings she has always helped and taught people to be better individuals. I owe my education to her since she encouraged me to aim for the sky and not settle for less. I help individuals with language learning disabilities (LLD) gain high self-esteem and confidence level, and professional coaching. The followers and clients will get free resources and videos every week as well as motivational affirmations. Thank you all so much for liking my Facebook page. https://www.facebook.com/UniversalJourneyAcademyLLC/ you can even contact me on my business line on WhatsApp: 1-818-213-1358 if you need immediate support. View more posts