Macro and Microeconomic Evaluation Essay Example | Topics and Well Written Essays - 1000 words

Macro and Microeconomic Evaluation - Essay Example jibe to the newsprint the deal is a positive economic incentive since to bring about positive appearance to me because it rewards people financially for making certain choices and behaving in a particular way. On March 2013, the prices of burger among other fast food products augmented due to increase in the price and tight fork out of beef. The change in price affected the demand for hamburger, its substitute and complementary products. With $10, a consumer purchased four realm beef hamburger, which was enough for a family with two children. In retrospect, the increase in the price of beef do the family with $10 only to afford two hamburgers. The effect was experienced in almost all households, which leads to a decline in quantity demanded since the income does not change correspondingly and in response to the price increase.This paper highlights that the price change caused a disincentive to purchase a hamburger and people, i ncluding me shifted from hamburgers to a chub domain turkey. Despite my preference to the hamburger, the price change, without a corresponding change to income made me purchase fewer hamburgers. In this perspective, the quantity of hamburger that I demand for the month decreased. It means my consumption pattern changed from consuming 15 hamburgers per month to relatively ten hamburgers. I could not take this for long, so I had to abandon the liking for a hamburger and shift to cheap ground turkey. The behavior for consuming ground turkey changed from cipher to 17-ground turkey per month.