Final Economics Blog* Brit

Prices and price elasticity affect my behavior as a consumer. I learned this through an activity we did where we went shopping for certain people and bought items we thought would benefit them but the key thing was we could only spend between $90.00 and $100.00 but we had to spend at least $90.00. I learned that prices and price elasticity affect my behavior as a consumer because it was my choice on what and how much I wanted to spend on certain things for the person. Also with learning about calculating elasticity it helped me realize how this and price affects me as a consumer.


I have also learned about how an understanding of economic principles can give you more control and make better decisions. I also learned this through the activity we did when we bought items for other people. I found out that when you are in control of what others get, it helps you make better choices with the economizing principal.

So throughout everything we have done with economics and all of the different principals it involves, it taught me how to make better choices when buying things, and it also gave me better reasoning why price elasticity, prices, consumers, buyers, the economic principal and many other things are so important to the economics unit, and how you can bring these things into real life examples.