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(1a) In the News: If you bought any good or service this week, you have already participated in the market system that operates by demand and supply. What drives the demand for any product? Why are firms willing to supply it?

Use the key word “economic news” in a Google search to find an appropriate news story or article that illustrates the ideas presented in the reading for this week.

Write a 3 to 5 paragraph summary of the information and also explain how it relates to what you have just learned. Do not copy and paste directly from the article except for small quotes that help explain your summary.

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