https://padlet.com/rjgereaux17/b29wukyfuemd Understanding economic supply and demand helps me see my economic surroundings because understanding why and what causes people to buy a certain good or service helps me understand why goods are the price they are. Also, it helps me understand what I should buy more of and why because of the cost and one's needs of certain goods and services. en-us 2016-10-06 15:53:47 UTC 2023-02-13 06:08:59 UTC hello@padlet.com rjgereaux17 https://padlet.com/rjgereaux17/b29wukyfuemd/wish/128872537 I like monster energy drinks but as the price of the cans go up, I buy less because it isn't worth my money anymore. ]]> 2016-10-06 15:58:19 UTC https://padlet.com/rjgereaux17/b29wukyfuemd/wish/128872537 rjgereaux17 https://padlet.com/rjgereaux17/b29wukyfuemd/wish/128874736 Before I had a job and wasn't making money, I didn't get Starbucks coffee. Now that I have a job and am getting an income I get coffee more often because now I can afford it. ]]> 2016-10-06 16:03:56 UTC https://padlet.com/rjgereaux17/b29wukyfuemd/wish/128874736 rjgereaux17 https://padlet.com/rjgereaux17/b29wukyfuemd/wish/128878147 When I'm running low on money, I can't afford to get acrylic nails so I substitute that for regular nail polish because it is cheaper but still decorates my nails. ]]> 2016-10-06 16:12:41 UTC https://padlet.com/rjgereaux17/b29wukyfuemd/wish/128878147 rjgereaux17 https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129293884 In the near future I believe suppliers will be supplying gasoline more. The more the generation grows, the more people are buying cars and driving everywhere. The price of gasoline will go up but if people really need gas to get to work or travel, they will buy the gas which will cause the suppliers to have to supply more of it. ]]> 2016-10-08 18:04:50 UTC https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129293884 rjgereaux17 https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129294544 If I buy a pack of cigarettes, I'm paying for the product but also the supplies that is needed for the production of a cigarette. For example, I am going to be paying for the filter, the paper the tobacco is wrapped in, and the tobacco. ]]> 2016-10-08 18:19:49 UTC https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129294544 rjgereaux17 https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129297156 If you use reusable plastic water bottles over throwaway plastic water bottles, you are reducing the waste of plastic and making Earth more recyclable and healthier. ]]> 2016-10-08 19:17:37 UTC https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129297156 rjgereaux17 https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129297600 I love chicken nuggets and McDonald's fake chicken nuggets are for some reason my favorite, but there does come a point where I eat too many of them and I'm not longer satisfied with them. ]]> 2016-10-08 19:30:57 UTC https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129297600 rjgereaux17 https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129297861 I need eyeglasses in order to see far away. The more glasses cost doesn't matter to me because I need them so I will keep buying them. That is an example of an inelastic good demand. ]]> 2016-10-08 19:37:54 UTC https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129297861 rjgereaux17 https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129298421 No matter the price of an emergency room visit, if the situation is serious, people will pay whatever the bill is just so they can get the help and service they need to fix themselves. ]]> 2016-10-08 19:55:13 UTC https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129298421 rjgereaux17 https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129298857 The average price of a big bag of airheads is around $2.39, if the price of Airheads went to $3.50 I wouldn't buy them anymore. Even though I like Airheads, there comes a point where they aren't worth my money.]]> 2016-10-08 20:06:31 UTC https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129298857 rjgereaux17 https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129298937  The price is  cellphone bill for an average family is about $150. If  the price of the bill went up to $250 or even $300, the family will lower how many cellphones they have or not have anymore cellphones at all.]]> 2016-10-08 20:08:55 UTC https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129298937 rjgereaux17 https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129300008 To me, no matter the price of a hunting license, I will buy it because I enjoy hunting and want to do it no matter the price. The more I hunt, the more I enjoy it, which leads to increase in inelastic demand because I want it more and more no matter the cause.]]> 2016-10-08 20:40:24 UTC https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129300008 rjgereaux17 https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129300158 This is an example of elastic supply because once the Broncos won the Superbowl everyone wanted to get jersey's that said Superbowl and were for the Broncos so factories had to make them really fast and ship them to company's to sell.]]> 2016-10-08 20:44:55 UTC https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129300158 rjgereaux17 https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129301129 I really want a MacBook Air Pro laptop because they are light, easy to transport places, fast, and the battery life lasts a long time. But since it takes a lot of money to produce the product, I can't afford it and get it. ]]> 2016-10-08 21:14:57 UTC https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129301129 rjgereaux17 https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129301283 As technology advances you can watch more movies online than you can a movie theaters. People get lazy and don't want to go out and watch a movie so they wait until the movie comes out on Netflix or Hulu. ]]> 2016-10-08 21:21:32 UTC https://padlet.com/rjgereaux17/b29wukyfuemd/wish/129301283