Not Dune

Price ceiling:  Me apenun on price ceiling is that we should not have price ceiling on products because by putting a price ceiling on  a products then not only would it afect how well the product is created for there would be no disier on trying to inprove the product. For it would cost more in in the out come

Oct 18

$        S
20      30
30      40
40      50
50      60
60      70

Inelastic                                                                          Elastic

                                                                              


Inelastic

                         Elastic

Economics Demand

Demand law of Demand

A time in my life when I use substitute demand, was when I went to, to MacDonald instead of Starbucks to perches a Frappuccino. For their Frappuccino at starsruck is expense, but better. Not desire to spend four or five Dolores for a medium drink. I chose to substituted it by bying a Frappuccino from MacDonald.

 

Question: Now that I know how the laws of demand affects us, in our decision making make. I wonder how the laws of demand effects the government decision in how they  much money  they should spend on a product and how much they are willing to spend.

 

Inelastic vs Elastic

Newspaper

Complementary Demand
Substitute
Elastic demand
Inelastic demand

                          The Green Truth News Paper 

Complementary Demand : The One Direction just tried out for the badminton team, and made it. Because of this the demand for rackets,and birdies are sky rocking.

Elastic Demand: This is bad. The police are going on strike and crime is increasing.   

Elastic Demand:Ice coffee lovers slide to a cold frappuccinos as the prices rise. The ice coffee lovers switch over to frappuccinos. 

Inelastic Demand: Electric prices rise,as people become angry as they pay more for electricity. 

     Hi, this is Chelsea G getting the news for the Green Truth paper.

      I ‘m taking you right in to the action as I interview some people that are furious  with the new electric bill  price.

    Hi  Jane this is Chelsea G. Myself and views are wondering how the new electric bill price are effecting you. With your  privately owned business, The Up and Healthy grocery store.

  

    Jane: I’m lamenting every moment that I have to pay more and more to the government. Just to keep my grocery store up and running.  These prices are insane. But I have to pay it or my store will not have electricity. Without electricity the frozen food isle would  all be spoiled and there hast to be light in my store. But this is crazy. It is not like the government is broke. But I creed  this might happen to me with increased electrical rates .

      There you have  it from Jane.

     It seems that the electrical prices are not only effecting one group of people but everyone. As we just heard from a college student at P.C.C say if he, does not pay the electricity bill, then he can’t stay up late and study. Furthermore other families are also feeling the same crunch.  

       This is what you call inelastic demand. 

    

        Will thing get worse? Will find out next week. 







              Question:Now that I know more about how demands work I wonder if it would work the same way in socialist country? 

Jamha Juice

 
                                          Jamha Juice


Price of a Small Drink  30        *
                                      20               *
                                      15                       *
                                      10                              *
                                        5                                     *
                                                 30    40    50   60  70
                                            
                                           Quantity of  drinks per week





Price of a Small Drink       Quantity of Demanded (weekly)
$5                                       30
$10                                     40
$15                                     50
$20                                              60
$ 30                                                      70