Scarcity

So, my understanding from Jim’s post is that scarcity isn’t really a problem anymore. If that’s the case, won’t that drive prices down quite a bit? That seems like basic supply and demand to me. When items become more scarce, the supply decreases driving the price up. So if items are less scarce then would supply decrease, driving the price down? If this is the case, why isn’t the average price level lower? Why is it still staying the same?

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clarkt33

I'm Tiffany. I'm actually only a guest student at LCC. I am a senior Business Management major with a minor in Economics at Saginaw Valley State University (Go Cards!). I also am an Administrative Co-op at Nexteer Automotive in Saginaw, MI. At SVSU, I am a member of the National Society of Leadership and Success. I also have been in the SVSU Color guard for four years, the last two of those years as team captain. In addition to that, I am a member of Music n' Motion, a student organization for West Coast Swing dance. I have a strong passion for color guard and dance, it's so much fun!

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