Hello! For this first discussion post, please answer the writing prompt below in 100-150 words (no more, no less; you can use https://wordcounter.net/(Links to an external site.)Links to an external site. to make sure you are on target).

Then, respond to 3 of your classmates' posts in a way that shows that you read their posts and thought about them. Note that you can see the grading rubric by clicking on the 3 little dots in the top right-hand corner of this box. Please let me know if you have any questions (send me an inbox message)!

Paul

Writing prompt:

We have learned that markets if left alone, will end up at an equilibrium point. At this price and quantity, some people are willing and able to obtain the good, and others are not. What are some markets (goods or services) where an equilibrium might not be the most desirable point? Meaning, if left alone, the market produces too much or too little compared to societal needs. Needs are different from wants. Support your answer if the need is not obvious. Ex - Technology is not always a need. When schools were closed for the pandemic and you had to access classes online, then technology is a societal need. Having internet to play games is not a need.

Example: In a purely free market, we might get a housing equilibrium where many people are still without housing, meaning we have homeless people on the streets.