This is my economics report on Supply and Demand, this being the demand part of it.
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In this essay, I will be writing about about five goods that I have bought recently, and if I consider my demand for these goods elastic or inelastic. The five goods I decided on are my iPod, my cell phone, my computer, the internet, and music from the iTunes Music Store. I will be talking about my demand for these items, and weather such demands are elastic or inelastic, and two factors that may change my conclusion.
The first item, is the iPod, a small, portable music player which was bought because I required a CD player replacement. My demand for this item so far is elastic. My demand on the item changes all the time. Two factors that may change my decision are repairs, should it break; and accessories.
The second item I have chosen for this list is my cell phone. I consider my demand for this item elastic, as demand for the item may increase at any given time, for example, if the phone should break, or if I decide to sell it to buy a better model. Two factors that could change my decision on the elasticity of demand on this item are repairs, and if the carrier should ever decide to drop support for my model of phone.
The third item I selected to assemble this list is my computer, which was built in 1999. My demands for this item are once again, considered inelastic, because my computer does well with the equipment it currently has, and I find free software on the internet as alternatives to the corporate offerings. The two factors that will change my decision for demand are repairs, and a necessary piece of software that I should need to get work done.
The fourth item on the list I have put together is the internet. I require the internet for various research on certain topics, and to assist me in certain endeavors. I consider my demand for internet inelastic, because with the internet provider I currently have, there is no demand for an alternative service, or better service, because what I have is just fine, though some factors that may change that decision would be if the equipment breaks, or if I desire faster internet.
Lastly, the fifth item I chose on my list is the iTunes Music Store, for which I get music for my iPod (Item #1). In my opinion, this can be considered one of the factors which could change my demand for the iPod. However, in my opinion, the iTunes Music Store has its own factors. I consider my demand for the iTunes music store elastic, because my demand for music changes very frequently. Some factors that could change my demand for this item are rises and falls in price, and the availability of more music.
In this essay, I have disclosed above my demands for five recently bought goods: The iPod, my cell phone, my computer, the internet, and the iTunes music store, and weather I consider the demands for them inelastic or elastic, and what two factors would change my decisions.

