https://padlet.com/aminjay003/7ykorfcw7l3w5946 Law of Demand en-us 2020-04-16 07:22:38 UTC 2020-04-17 12:44:34 UTC hello@padlet.com aminjay003 https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/510045347 This post discusses about the law of demand and to know it first we need to know what demand is. Demand is the ability and willingness of someone to buy a particular number of goods or service at a certain price at a given time. Getting to the other posts we will know about law of demand. ]]> 2020-04-16 07:27:57 UTC https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/510045347 aminjay003 https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/510049299 This website shows the clear explanation of the Law of Demand and shows it importance in real life and how it works hand in hand with the law of supply. It also explains how the diminishing marginal cost law is related to the law of demand and how they affect each other.
I chose this website because it gives the key takeaways which are useful as well as it gives examples on the way how we practice the law of demand. It as well tells us the difference between Demand and Quantity Demanded which are closely related to the law of demand and help in understanding it better. ]]> 2020-04-16 07:30:34 UTC https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/510049299 aminjay003 https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/510095752 The website tells you the law of demand straight to the point alongside what demand curves and schedules are. The website shows the key areas of demand that are related and show the best use of the law of demand.
I chose this website because of the diverse information provided with external links on the laws of demand. Secondly the curve explains how the law of demand can be shown using the various quantity of goods demanded for at certain prices.  ]]> 2020-04-16 07:58:24 UTC https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/510095752 aminjay003 https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/510149616 This website brings the right concept of the law of demand and tells what happens to the quantity demanded when the price of the commodity is changed let it be an increase or a decrease. The website shows how there is a different impact of giffen goods on the law of demand.
This website provides the equation of how the law of demand comes about. It also tells a little background about the law of demand.]]> 2020-04-16 08:29:18 UTC https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/510149616 aminjay003 https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/510202852 The Website provides all the information related to demand and makes it easier to understand due to the practice exercises provided within the website. 
I chose this website because of how the information is provided with the video links to help with understanding about the laws of demand. The exercises as well as the graphs too help to easily understand the concepts.]]> 2020-04-16 08:56:52 UTC https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/510202852 aminjay003 https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/510237274 This video explains how the price affects the quantity demanded which is part of the law of demand. The law demand is shown using a curve for details got from an example of relating prices to a product(book).
I chose this video because of the brief explanations and clear graphics provided for easy understanding on the law of demand. The example given also helps in fast learning about the concept.     ]]> 2020-04-16 09:14:52 UTC https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/510237274 aminjay003 https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/510237735 This image clearly states the law of demand and the only thing i would like to add is that it's possible when some factors are considered to be perfect.]]> 2020-04-16 09:15:09 UTC https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/510237735 aminjay003 https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/510257447 The image below shows the reasons that lead to the law of demand. For example a low income will lead to low demand and a high income rate will lead to a high demand.]]> 2020-04-16 09:25:23 UTC https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/510257447 aminjay003 https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/512637373 This video has clear graphical presentation on the law of demand. It as well talks about the types of people in the market. There is a curve showing the effect of price on demand that is explained by the narrator.
I chose this video because it is clear and the way the concept of the law of demand is explained is concise with more than two examples provided for easy understanding. ]]> 2020-04-17 11:31:17 UTC https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/512637373 aminjay003 https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/512709616 The video linked below talks about demand, the law of demand and explains the curve of the law of demand. The definition of demand and law of demand is clearly provided.
I chose this video because of the rational use of price points provided for the quantity demanded of the good (ice-cream) which makes the concepts very clear. ]]> 2020-04-17 12:19:45 UTC https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/512709616 aminjay003 https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/512719959 The video as the others talks mostly about the law of demand, but this one has more reasoning provided to explain the concepts and tell us how Demand differs from the Law of Demand as well as the different types of demand.
I chose this video because of the way how the concepts are explained bit by bit where in the other videos they are all explained at once. There is also the logical part that comes in when the law of demand is not followed making the mind clear of why the law is not followed.  ]]> 2020-04-17 12:25:55 UTC https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/512719959 aminjay003 https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/512738192 The way how the law of demand can be defied surprised me the most as there are a few products on which the law of demand doesn't apply for example luxury items like cars: no matter how much their prices go high the demand for them will always increase. ]]> 2020-04-17 12:36:39 UTC https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/512738192 aminjay003 https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/512738501 This topic is practiced whenever I go to get groceries where when I see a certain product is at a lower price than normal it causes me to buy more of that commodity making the law of demand a law that is applicable in real life. ]]> 2020-04-17 12:36:51 UTC https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/512738501 aminjay003 https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/512738876 I think the most important thing to pass on is the way how we obey and disobey the laws of demand in real life and tell them how we are all surrounded by economics in our life.]]> 2020-04-17 12:37:04 UTC https://padlet.com/aminjay003/7ykorfcw7l3w5946/wish/512738876