Choose one of the following questions and post a response:

1. Why does the demand curve for a good slope downward to theright? What does the downward slope reflect? Use a specific productor service as an example in your post.
2. What is the law of supply? What does it imply about the supplycurve for a good or service?  Use a specific product orservice as an example in your post.
3. If the quantity of a good consumers are purchasing exceeds thequantity producers are willing to supply at the current price, whatwill happen to the market price in the future?Why?   Use a specific product or service as anexample in your post.
4. What does the height of the demand curve for a good indicate?What does the height of the supply curve for the good indicate?What condition must be present if an exchange is going tooccur?   Use a specific product or service as anexample in your post.
5. In a market economy, will units of a good be produced andpurchased if consumers value them more than their cost ofproduction? Explain. If the production cost per unit of a goodexceeds the value derived by consumers, will the good continue tobe produced and consumed? Why or why not?

Your initial post should be at least 250 words. Be sureto include references and citations for any information youincluded. Opinions are welcomed, but make sure they are \"educated\"opinions with resources to back them up. Post directly into thetext area (do not attach files unless they are supplementarymaterial).