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.
Although this wasn't in the correct format (please refer to the Maccanomics blog with the instructions for this assignment) I gave you a modified grade based upon the final posting...
ReplyDeleteThanks!