The Econmy

In: Business and Management

Submitted By thaone08
Words 272
Pages 2
The economic situation that United States is in isn’t getting any better and has gotten worst within the last 5 years. This year we are on pace to have gas prices go up to 5 dollars, millions are still out of work and food prices are going nothing but up. Go back to 2008 jobs was easier to get, employment wasn’t down as it is now, businesses wasn’t going out of business and the president didn’t have all of this on his plate. This year employment is up to which is the highest which is 8 percent, new president which mean more issues and one problem that arose was that the troops came home which added to more Americans that are unemployed which mean less jobs.
Business wise the economy suffered a lot more because there is competition more when it comes to low prices, more similar products and because everyone want a low price, because people want to save money and find the lowest price. Example would have to be with cereal people want the best tasting kind such as name brand but to save money that find a substitute and buy store brand which comes with half the good taste. It is hard for a firm to sell a product that doesn’t have substitutions because if you set it to a high price not a lot of people will buy it and in this economy when it comes to saving money and feeding a family much less yourself you have to make your money go a long way so the lowest price will…...

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