DeAndre Simmons
1/29/2018
M2: Prompt 1
Sowell stresses the importance of price coordination in a free market and goes on to
explain that the amount of scarce resources that are distributed around the world are
governed by prices and those prices are influenced by people whether they are aware of it or
not. The market consists of supply and demand; demand being how much of a product is
desired by people and supply being what the market has to offer the people. The quantity
demanded is how much people are willing to buy of a certain product at a certain price i.e. if
a certain resource has a high demand and is scarce its price goes up. This is called the demand
