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Thanks for that lesson in Econ... Much appreciated....
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Demand is the desire of a buyer and his ability to pay for a particular commodity at a specific price. Supply is the quantity of a commodity which is made available by the producers to its consumers at a certain price.
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i wonder how many heads this post will go over...
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Most of them
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And for your information:
In microeconomics, supply and demand is an economic model of price determination in a market. It postulates that, holding all else equal, in a competitive market, the unit price for a particular good, or other traded item such as labor or liquid financial assets, will vary until it settles at a point where the quantity demanded (at the current price) will equal the quantity supplied (at the current price), resulting in an economic equilibrium for price and quantity transacted.
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^ Someone has a text book.
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Check yourself
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^^someone did a copy & paste
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To inform...
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His mother did it for him.
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I just hope the toilet paper plant we are doing starts production soon.
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Yes, you old timers need all the tp you can use...lol ).gif)
You old fools must hate been old, and all you have is to blog day and night...lol
Good night. 
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Nice drive by, lol
stay safe
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How the hell you know my real name?
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I have a friend that just traded 2 rolls of TP for a hair cut 😂
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Next it will be "birdwatching" trading for some guys rolls of TP. He could offer one roll of TP for one kiss lol
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Spoken like a true haggler.
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Aww elasticity and unelastic markets in ecomincs
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And it depends if the product has any substitute products.
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Wait, what?
Can't I just like pay and get what I want?
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I got two rolls of TP looking to trade for 1 hr of time. Any takers?
Only 1 roll for Monk
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Sounds like gas prices, theyre coming down.
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Toilet Paper would normally be considered a product with a relatively inelastic demand. If the price of the product is lowered more of the product will normally not be sold because there is only so much of the product you use. In olden times if the price of the toilet paper got too high or their was a shortage of toilet paper substitutes would be found such as pages form the sears catalog or corn cobs.
Of course in modern day California there currently seems to be a big demand which just means there are a lot of people that are full of it.
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Thank you
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Tell me more about those "substitue products"
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Elasticity, demand, supply... do not threaten me with a good time! Let's move on to GameTheory and really stop hearts.
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| There are 26 comments on this blog. |
