Supply_and_Demand

Supply and Demand EXCO 212 Denise Zarate May 5th, 2011 Jobs have become scares in the last few years, that college becomes more desirable. People would be more inclined to attend college as a means of gaining new skills and knowledge to obtain a new career or job to help support the family. Another possible consideration for changes in the supply and demands in regards to colleges, would be changes in life. If one was to become a widow and was currently a stay at home mom, then obtaining a college education could be a way of securing a higher paying job with benifts and security. If an opertunity at a job came up with the possibility to move up in the company along with a higher education. This could create a higher percent of people returning to college to better themselves, and create a rise in the demand of college students and classes needed. As we look at college and how it can affect supply and demand. There are always substitutes for products that are purchased, so I would say an example of this would be jobs. If jobs continue to be unavailable then people would tend to return to college to gain more skills and gain a better job in the work force. Another substitute would be trade school. People feel that a trade school offers a faster way to gain job skills and be able to move up in their job or gain a job in less time that attending a traditional college. It also usually costs less than a traditional college as well. The complements that are associated with the product I am discussing are first books. They might fall in price as materials are more available, then college students might be able to attend additional classes. I would also say that computers are another complement to college. If the price of college increases, less people are likely to purchase new computers for their schooling. Even though a student might have a broken computer already, yet newer programs are more beneficial for schooling. They are more likely to stick with the older verson, since they spent more on college. So many people are laid off work, so they have decided to return to college. This can make the fees go up as the demand rises. They colleges know that people may be getting loans to pay for college and bank on students that are willing to pay any price for an education to achive a job or even a higher paying job.