Believe it or not, your daily life is affected by the economy. I'm sure everyone goes to the mall and the shoe store. Well, let's say you just heard about these awesome sneakers and almost everyone you know wants a pair. You go to the shoe store to find them, and they're all sold out! You have just been involved in the SUPPLY of a product. The more people want something, the higher the price will be. Then you think you're going to wait a while, until the price of these sneakers drops, but they are THE most popular sneakers ever made. Guess what, the next time you go to the store, the price will actually have increased! Because EVERYONE seems to want a pair of these things. The company now thinks that sneakers will be popular forever, so... they hire a lot more employees and start making more and more sneakers, so EVERY store has them in stock. Sooner or later, people got tired of the new style, and most of those who wanted a pair got one, so now the shoes start piling up on the store shelves, and now the store has to get rid of it. one way or another, then they start putting them up for sale. The “economy” has just been affected by supply. The more available a product is, the lower the price. The United States has a “free market” economy, meaning the prices of our products are determined by the will of consumers. Consumers will only buy what they feel they “need” at that time....