How has cost elasticity influenced the retail market?
Amazon.com
Amazon.com has had a colossal impact on competition in the retail market. Consider the supply and demand of our current marketplace. Is Amazon simply meeting a demand? Does the consumer public understand the impact of their demand?
Fast forward 50 years, what will the retail landscape look like? What is the large scale economic impact of the direction demand is taking us in? Offer conclusive remarks for or against progress in this direction from an economics perspective.
Some questions you might look at are:
· What is the role of price in a market economy?
· How has cost elasticity influenced the retail market?
· How has online shopping impacted other components of the retail chain such as shipping?
The final report should be submitted in APA format, should not exceed 7 pages and should incorporate at least 50% of the critical vocabulary
