https://padlet.com/khaslam406/4ea7emxyzvsh By Kevin Haslam en-us 2019-04-10 18:58:32 UTC 2026-01-19 01:34:39 UTC hello@padlet.com khaslam406 https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350603683 Hello, my wall here will be showing, and teaching you about equilibrium. You will be learning about what causes it, changes it, and what it is.]]> 2019-04-11 01:15:07 UTC https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350603683 khaslam406 https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350604050 2019-04-11 01:17:10 UTC https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350604050 khaslam406 https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350604055 When a market is above the equilibrium it means there is a surplus, which means there is more supply then demand. An example of market equilibrium would be for example selling flat screen tvs, lets say you're selling them at $2,500 but you end up getting a lot of extra stock sitting in the warehouse. So then you would lower the price to raise the quantity demanded. Then lower production rate (Quantity supplied) so you get rid of your surplus, and then you would eventually start to sell about as much product as you make. At that point you have reached equilibrium. This website gives you a decent idea of what Equilibrium is and a good example, which is why I decided to use it.]]> 2019-04-11 01:17:13 UTC https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350604055 khaslam406 https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350604100 2019-04-11 01:17:26 UTC https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350604100 khaslam406 https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350604119 2019-04-11 01:17:33 UTC https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350604119 khaslam406 https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350604165 This video gives an explanation of what Equilibrium is, and how you reach it, while giving apples as an example. It discusses how as the price is cheap the demand for the apples would rise, and the quantity demanded would potentially be higher then the quantity supplied, and as you rise, and if you raise your price due to a larger volume of consumers purchasing the products, the demand will start to decrease as well due to it becoming not as affordable. Then they might be left with a surplus of unsold products as the quantity demanded would be less then the Quantity supplied. To combat this, the price would then be dropped to encourage the sale of the surplus of products, and seeing as there is a surplus, they will start to decrease the quantity supplied as well. The equilibrium is when the price is slightly increased, so the quantity demanded would be slightly lower, but not so high that you loose too much of the demand. It would be at a point where it is at an Equilibrium so the quantity supplied meets the quantity demanded, as the price rises, the quantity demanded lowers, as the price lowers the quantity demanded rises. This video was chosen as it gives a good introduction on what Equilibrium does, and how it is achieved.]]> 2019-04-11 01:17:46 UTC https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350604165 khaslam406 https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350604176 This video talks about the cause and factors that would change the Equilibrium. Using apples again as an example,  if lets say there was apple created that was disease resistant, it would increase the quantity supplied because there would be less supplies lost, and due to less supplies lost it would cost less to produce, so the price would drop, so as both supplies increasing and the price dropping, this would account for the quantity demanded rising as well, and we would have a new Equilibrium. Another scenario, lets say that a study was put out showing there are benefits from using the product, then the quantity supplied would increase, and then the price would also increase as well as the quantity supplied, creating a new equilibrium. Another scenario, is a new product comes around, which is advertised and consumers might start buying more of this new product, so then the price and quantity of apples will go down as the quantity demanded will be less, and the quantity supplied will also go down so as not to gain a surplus. Which will again effect the equilibrium. One more scenario could be that the employees had to be given a pay raise, so this would cause the Quantity supplied to decrease, and because there would be less product, the producers would raise the price to get more for their product, and as it gets higher the supply demanded will drop, meeting the quantity supplied. And there will be yet another new equilibrium. I chose this video because it gives multiple clear examples and scenarios which explain how and why equilibrium in markets change.

]]> 2019-04-11 01:17:50 UTC https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350604176 khaslam406 https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350604200 2019-04-11 01:17:56 UTC https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350604200 khaslam406 https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350604216 2019-04-11 01:17:59 UTC https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350604216 khaslam406 https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350604264 This is a more detailed representation of the supply and demand changes which lead to changes in the equilibrium]]> 2019-04-11 01:18:15 UTC https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350604264 khaslam406 https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350604279 This image shows the rise and fall of demand as well as the rise and fall of the quantity, and shows specifically the middle point where the two lines meet. This point is called the Equilibrium.]]> 2019-04-11 01:18:19 UTC https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350604279 khaslam406 https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350631604 1) I learned about how each of the different factors affected the other, and how at prices which get too high, there is more likely to be a large surplus as people tend to buy other things instead and about how each factor changing decides whether its higher or above the equilibrium.
2)This is interesting, because if I ever get into a career/job where I own a manufacturing business, this will give me the right idea on how to run it properly and keep in the equilibrium which is most profitable for me.
3) Make sure I tell them what factors to take into account so they know how to keep a business in equilibrium state.]]> 2019-04-11 03:42:54 UTC https://padlet.com/khaslam406/4ea7emxyzvsh/wish/350631604