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15. I think the Galaxy Note 7 is changing the elasticity of the supply because the company was trying to rapidly produce a product to sell and they made it poorly so the phones were exploding which made the product more inelastic because they had to give refunds and fix the battery issue.

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14. Something I think has a inelastic supply is a Lamborghini because it takes a lot to make one with a lot of different involvement from different people with a different skill set to make everything in the car excellent which makes it really expensive and hard to get.

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13. The iPhone 7 I think is a recent example of a elastic supply because millions of people wanted and they got it.

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12. A inelastic good to me would be gas for my car because I need it to get to work and school. I would cut down driving as much as I could but I would still have to get gas eventually.

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11. A service that is elastic is red box movie rentals because if they increased the price by one dollar per night they would lose a lot of people because they would be spending double what they would normally pay for one night.

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10. Candy is a elastic good because there are lots of different types of candies to choose from so people have plenty of options to go for the cheapest one.

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9. heart surgery is a very elastic service because people will pay any amount to stay alive.

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8. Tobacco products are very inelastic because people are addicted to them and can't get enough. So they are willing to spend a lot of money to fulfill their addiction.

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7. My backpack I used for school in middle school was a great backpack when I first got it but as time went on the back back became less useful because holes started to form and the zippers stopped working.

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6. I think water is a resource that the profit goes to not wasting it because we only have so much water so the companies selling it don't want to run out of product to sell

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5. When I go to Subway to buy a sandwich the company has to pay their employees to make my sandwich which is the cost of production.

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4. I think jacket prices will increase soon because winter is coming so people are going to be buying it almost no matter what because it is going to be cold outside.

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Understanding how supply and demand works helps with my economic surroundings because I know why a product isn't selling or why a product is selling a lot. Also it helps to know why a business is investing in a certain product and making it as affordable as possible so more people will buy it.

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3. I was shopping online for car chargers and I saw two that I liked, they both had two plug ins and were reliable but I bought the cheaper one because they were the same thing and worked the same

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2. When I got a job I had a lot more money coming in so I felt I could buy more and I bought rims and tires for my Tahoe.

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1. Monday at Mi Cocina the bacon breakfast burrito is $2.50 instead of $3.00 so I eat lunch there every monday because I save $0.50.