The earthquake and subsequent tsunami in Japan had a significant negative impact on Toyota, reducing their ability to produce parts to be delivered to their manufacturing and assembly plants around the world. Using the laws of supply and demand as a construct, research and discuss the impacts on Toyota and the auto industry in general from such an event. How does a business remain competitive when prices must remain high due to a reduction in supply?

Write a 750 word APA formatted paper with a minimum of two references in support of your findings.