You are shopping for a gift for a relative, and you are trying to choose between two sweaters you have seen for sale on the internet. one is $40, is a well-known name brand, and was produced from the latest high-tech synthetic materials in a factory in bangladesh. the other is $70 and was hand-made by a woman a few towns away who raises sheep and spins her own wool. both vendors will ship the items to your home. explain how you will decide which item to buy. be sure to consider the economic issues and potential environmental impact of the product you choose. (8 points)

By purchasing $40 dollar sweater you will indirectly support a foreign industry, which earns its money by selling bulk items to its client, the well-known name brand. However, the clothing industry in Southeast Asia has a history of damaging the environment by pouring highly toxic residuals to nearby water streams.  On the other hand, by purchasing the $70 dollar sweater from the woman a few towns away, you will be directly benefiting her as there are no intermediaries between the customer and the producer. You will also be benefiting the women's suppliers of materials she needed to manufacture the sweater. Nevertheless, you will be incurring in excess of $30 in comparisson to the first option.

because money talks, money is power. by limiting a person income potential, you limit their overall potential.

explanation:

changes in factors like average income and preferences can cause an entire demand curve to shift right or left. this causes a higher or lower quantity to be demanded at a given price. demand curves relate the prices and quantities demanded assuming no other factors change. it is important for consumers to know this information, because it is crucial for them to know what they can afford and can't afford. i hope this .