Being in quarantine has opened up many challenges to me, specifically purchasing the products I need for everyday life. Despite this, there are other options opened to me due to the advancements in technology like online stores and delivery services. This type of interaction fits in the market economy because I am free to purchase items in any online store of my choice. I can also freely purchase any quantity of the product for as long as it is on stock.
I have to buy some supplies for school before it runs out of stock.
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Due to limitations brought by the pandemic, restaurants shift to delivery or take out to keep their business alive, which causes a rise in delivery services. This type of interaction fits in the market economy because my mom and I have the freedom of choice as to which delivery service we should use. Despite having a variety of delivery services to choose from, such as Lalamove and Grabfood, my mom had the freedom to choose FoodPanda as our delivery courier for our lunch.
Hi Mom! Can we order delivery for lunch?
Sure! Let's order using FoodPanda delivery.
When the food arrived..
Along with having to choose a delivery courier, my mom also had to decide on which restaurant to buy from. In this case, she bought spaghetti from Mama Lou's. This interaction fits in the market economy for my mom has the freedom to choose which restaurant to buy our lunch from. She also had the freedom to choose which food item in Mama Lou's she will purchase.
Thank you, Mom! I love it! This is my favorite spaghetti!
You're welcome! I bought Mama Lou's spaghetti because I know that is your favorite.
Online selling has become very rampant nowadays since everyone is at-home quarantine. As an online seller himself, my dad receives feedback from customers about the product he sells, and he uses this to see if there should be any adjustments to his price. It is because he can freely adjust the price of his products based on its demand. He holds the right to increase or decrease the price of his products to a reasonable price that will sustain the demand for his products in the long run.
I'm working right now, and I am just reading some feedbacks and reviews from customers
I'm not sure yet, Anak. I still have more to read.
Hi Dad! What are you doing?
Oh will you be changing your price?
Later that day...
With the gaming industry rising in popularity, many people are interested to play the games offered to them by various game developers. In this instance, though there were various gaming services like Google Play and Apple store, my brother purchased his game online in XbobLive. He had the freedom to not only choose a gaming service, but he was able to choose which game he would like to play and purchase.
Hi Ahia! Can I play with you?
Sure! I just bought a new game on XboxLive!
Wow! That game looks so fun!
Later at night...
Though it is a trend nowadays, a Netflix subscription is something that most do not consider purchasing as their streaming service. It is because there are other streaming services to choose from, like Hulu, AmazonPrime, etc. This interaction fits in the market economy because my family has the freedom to choose which streaming service we want to subscribe to. We also have the freedom to choose how long we would subscribe to Netflix as well as the freedom to change our streaming service whenever we want to.