Hello everyone,
The topic which I chose to talk about for this week is holiday shopping, Black Friday in particular. Having just recently returned to class from Thanksgiving break something recent that a lot of people took part in was Black Friday shopping. The reason why I chose to talk about this topic is due to the economic benefits it provides for the producers. By offering discounts to the people it allows for an increase in potential buyers. While a big company like Walmart is already be gaining a lot of annual income through sales they manage to pull in a wider group of consumers through the use of theBlack Friday discounted prices. This is possible as the lowered prices creates an opportunity for those who may not have been willing to pay the higher prices for a certain product to be able to take part in the sales. On the surface it might look like the producers will be losing money because of lowering the prices but as this attracts more consumers they actually make more sales and thereby gain greater returns.