Here is an example of a supply curve, and the changes of a supply environment:
ELASTIC VS. INELASTIC SUPPLY
CHANGE IN SUPPLY
Does supply create more demand?
Saturday, October 20, 2012
SUPPLY CURVE BLOG
This is about supply and supply curves.
Here is an example of a supply curve, and the changes of a supply environment:
Here is an example of a supply curve, and the changes of a supply environment:
Demand Wrap Up!
I did all this stuff in Photoshop at home...so....yeah...sorry if it looks really bad!
CHANGE IN DEMAND
If price were to increase, is there a limit that absolutely no one would buy the product?
Friday, October 12, 2012
Demand: Law of Demand
I'm just gonna talk about Substituting Demand. I can relate to this particular type of demand more personally because it seems to occur more often in my life than I realize.
I come from a family that doesn't have a lot of money, so for us, grocery shopping is kind of difficult. Many can afford all types of food, such as different kinds of cereal, muffins, Chinese food, lopster, steak, and also lots of treats such as ice cream, cookies, and cake. But for us, cake and ice cream isn't always an option for us. So, for an alternative, we can still purchase milk and cereal, but what better way to replace something as sweet as cookies for a different kind of sweet?; fruit.
That may not be much of an "alternative" or "substitution" for something like dessert, but for us, it meets our demand for something "sweet". I'm a HUGE fruit lover, plus it's low on fat! Haha!
Fruit meets our criteria. So it works out. :)
Now that I know what Substitution Demand is, I now can understand why we buy so much fruit! When we learned about it in class, this fruit thing is what first came to my mind.
But how many people purchase fruit, and how much? And do we increase the amount of purchase for fruit? And do people purchase more candy and sweets than they do for fruit? Is fruit just as much of a (healthy) demand as it is for desserts?
I come from a family that doesn't have a lot of money, so for us, grocery shopping is kind of difficult. Many can afford all types of food, such as different kinds of cereal, muffins, Chinese food, lopster, steak, and also lots of treats such as ice cream, cookies, and cake. But for us, cake and ice cream isn't always an option for us. So, for an alternative, we can still purchase milk and cereal, but what better way to replace something as sweet as cookies for a different kind of sweet?; fruit.
That may not be much of an "alternative" or "substitution" for something like dessert, but for us, it meets our demand for something "sweet". I'm a HUGE fruit lover, plus it's low on fat! Haha!
Fruit meets our criteria. So it works out. :)
Now that I know what Substitution Demand is, I now can understand why we buy so much fruit! When we learned about it in class, this fruit thing is what first came to my mind.
But how many people purchase fruit, and how much? And do we increase the amount of purchase for fruit? And do people purchase more candy and sweets than they do for fruit? Is fruit just as much of a (healthy) demand as it is for desserts?
Monday, October 8, 2012
Sunday, October 7, 2012
Demand, Demand, Demand! Blog #5
Complimentary Demand:
Micheal Phelps tries out for hockey!
"I have been wanting to join a hockey team for such a long time," Phelps says. "Course I'll still swim, but I think it'd be fun to do both!"
Micheal has inspired many of his fans and others to practice hockey and join hockey lessons. Hockey sticks, and pucks sales triple, along with padding, helmets, ice skates, and mouth pieces.
Substitute Demand:
Teachers strike! Teachers demand a higher income.
Parents and family members have been worried for their children's and teen's education. In exchange, parents home school and sign their children up for online classes out of stress and worry.
Elastic Demand:
Books at Borders Book Store double, which means the sales decrease. Less and less are buying books from Borders Book Store.
Inelastic Demand:
The price of Life-Saving medications rise up! Yet the sales continue, despite the price. Costumers and consumers are still willing to buy them, because it's still a very important use.
Micheal Phelps tries out for hockey!
"I have been wanting to join a hockey team for such a long time," Phelps says. "Course I'll still swim, but I think it'd be fun to do both!"
Micheal has inspired many of his fans and others to practice hockey and join hockey lessons. Hockey sticks, and pucks sales triple, along with padding, helmets, ice skates, and mouth pieces.
Substitute Demand:
Teachers strike! Teachers demand a higher income.
Parents and family members have been worried for their children's and teen's education. In exchange, parents home school and sign their children up for online classes out of stress and worry.
Elastic Demand:
Books at Borders Book Store double, which means the sales decrease. Less and less are buying books from Borders Book Store.
Inelastic Demand:
The price of Life-Saving medications rise up! Yet the sales continue, despite the price. Costumers and consumers are still willing to buy them, because it's still a very important use.
Tuesday, October 2, 2012
Econ Demand Schedule for Prom Dresses
PictureURL: http://stylewithanna.com/wp-content/uploads/2009/04/favina-5926-pink-prom-dress.jpg
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