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Micro Paper

In: Business and Management

Submitted By amc61890
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Supply and Demand of Personal Computers Today almost all households have a personal computer. The majority of households have multiple personal computers. In all the developed nations across the world, this is the norm. It is common to have one desktop computer and several additional laptops within the household. Twenty years ago, this was definitely not the norm. From 1995 to 2015, the price of a personal computer had decreased significantly due to the advancement of technology. Two of the basic principles of microeconomics are supply and demand. As the supply of a product rises to be greater than the demand, the price of the particular product decreases (Applications of Demand and Supply, 2010). This is a perfect example of the effects of supply and demand on the market for personal computers. Twenty years ago, the personal computer was just beginning to spread to middle-class Americans (Comparing Today's Computers to 1995's, 2012). Before this time, computers were mostly only seen in businesses and wealthy households (Court, 2011). A personal computer that was purchased in 1995, for example, had a very different appearance than a computer purchased today. Not only were they much bulkier and space-consuming, they were slower, less efficient, had less storage space, and less memory (Court, 2011). At this time, the average price for a computer was more than $2000 (Comparing Today's Computers to 1995's, 2012). An invention then took off that would change the not only the price of computers but would change the world forever. This invention was the World Wide Web also known as the internet. The each attraction of the internet along with what it could accomplish attracted consumers like never before (Rittenburg & Tregarthen, 2015). As time passed, there was a drastic increase in household consumers that purchased computers for their homes due to the

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