Blog #3

Blog #3

I've found that I connect to the reading in my hobby's. My Dad in the past two years has been fixing up a old  68' Chevy truck; I help him with putting the parts in or providing a extra hand. This makes a connection to the economy because, there are many fanatics about fixing up old trucks. To fix up old cars in general there needs to be truck parts provided; therefore, there needs to be someone selling them. This goes along with supply and demand . It could also partakes in the economy because there are some parts in the Chevy truck my Dad doesn't know how to fix; so he has to take it to a mechanic who knows how to fix old classic cars. This provides job's for people who have the skill set of fixing up old cars. Another example is if a owner of a classic car needs a paint job they take it to a professional who also makes more money through that. 

By fixing up my Dad's classic truck we are making it worth more money. He's putting money into it by buying parts, yet if he ever decides to sell his truck he will be able to sell it for a lot more than he bought it for. He bought his car in 2010 for 3,000 dollars; if he decides to sell it today he could sell it for around 12,000 dollars. Without supply and demand my Dad wouldn't be able to buy parts for his truck, and there would be a decrease of classic cars in our generation today.

Question: Would the government ever be able to control supply and demand? What would happen if consumers were low on money and couldn't buy the products the markets were selling?