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1. Something I personally have purchased where the law of demand applied

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1. Something I personally have purchased where the law of demand applied

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2. Something I've purchased because of the influence of the income effect

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2. Something I've purchased because of the influence of the income effect

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3. Something i think suppliers might be supplying more of in the near future because I believe that the price will likely increase.

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3. Something i think suppliers might be supplying more of in the near future because I believe that the price will likely increase.

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The popsocket has become something that all teenagers love. Therefore its popularity is skyrocketing.

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4. Something that represents a cost of production for a product I purchase

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4. Something that represents a cost of production for a product I purchase

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When I buy a water bottle, the plastic encasing it is essential. You can't just sell the water without its container.

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5.Something I believe the profit motive helps to reduce the wasting of

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5.Something I believe the profit motive helps to reduce the wasting of

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Beetle Kill logs have been used in many woodworking projects since the invasive species made its mark

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6. Something that I have experienced diminishing marginal utility for

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6. Something that I have experienced diminishing marginal utility for

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The Mac Computer was very popular during my middle school days. After a while it has diminished and Windows has taken over again

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7. Something connected to my school work that might increase productivity for a while but would eventually see diminishing marginal returns as you added "more"

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7. Something connected to my school work that might increase productivity for a while but would eventually see diminishing marginal returns as you added "more"

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A camera is helpful for only one class most of the time, when that class ends, I almost have no use for it anymore besides personal use.

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8. A good that has inelastic demand to most people

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8. A good that has inelastic demand to most people

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All people need prescribed antibiotics at some point, and they have little to no substitute

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9. A service that has inelastic demand to most people

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9. A service that has inelastic demand to most people

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Everyone has shoes, so most everyone needs shoe laces

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10. A good that has elastic demand to most people

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10. A good that has elastic demand to most people

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When the price of Coke goes up, people will switch sodas.

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11. A service that has elastic demand to most people

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11. A service that has elastic demand to most people

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Fast food is elastic. When one restaurant goes up in price, you just go to a different one

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12. Something I believe has an increased inelastic demand quality to me because of HOW I VIEW IT

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12. Something I believe has an increased inelastic demand quality to me because of HOW I VIEW IT

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It doesn't matter to me how much a phone costs, I just get hand-me-downs anyways

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13. Something I believe is a recent example of elastic supply

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13. Something I believe is a recent example of elastic supply

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When buying chocolates, you can buy the most expensive, or you can buy Hershey's. :3

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14. Something I believe has inelastic supply that I would really like to have, but can't get because of this issue

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14. Something I believe has inelastic supply that I would really like to have, but can't get because of this issue

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Yachts are an Inelastic supply, however I do not have that outrageous amount of money

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15. Something I believe technology/other advancements is changing the elasticity of supply of

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15. Something I believe technology/other advancements is changing the elasticity of supply of

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How: Smart Phones have made the wall phone obsolete.
Why: Now that our phones can be taken everywhere and anywhere, We no longer really need home phones