https://padlet.com/dgfouts18/jq84ub7pj2zx Made with ♥ en-us 2018-02-07 20:08:24 UTC 2018-02-21 00:18:21 UTC hello@padlet.com dgfouts18 https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/229311867 2018-02-07 20:12:49 UTC https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/229311867 dgfouts18 https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233093340 As the price increases, the quantity demanded decreases. I purchased breakfast burritos from Mi Cocina for $3 and my quantity demanded was very high. But their price recently increased to $4. This has caused my quantity demanded to decrease because of the increase in price. ]]> 2018-02-20 00:48:42 UTC https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233093340 dgfouts18 https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233093439 When the prices of girl scout cookies went up from $3.50 in 2010, to $4.00 today, I could not stretch my dollar as far. So, because of the income effect, my purchasing power went down and I bought less girl scout cookies. ]]> 2018-02-20 00:49:14 UTC https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233093439 dgfouts18 https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233093556 Recently, I have been prom dress shopping. The prices of dresses have been increasing as prom season is just around the corner. I really wanted to buy this prom dress, but it was too expensive. So, I found a substitute for another similar prom dress. It was a similar color and style as the original, but it was much less expensive. ]]> 2018-02-20 00:49:57 UTC https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233093556 dgfouts18 https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233093662 Suppliers will likely be supplying more summer/ spring clothes because the warmer seasons are just around the corner. So, they will likely increase the prices of summer and spring clothing because people will be more willing to pay for those pieces of clothing during that season that is on the way than they are right now while it is snowing. Therefore, the suppliers will be able to raise the prices in the near future to match the changing season. ]]> 2018-02-20 00:50:37 UTC https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233093662 dgfouts18 https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233093855 Something that represents a cost of production for the Cheerios I recently purchased is the packaging and box, as well as the price. The packaging and the box represent the raw materials needed to produce and sell this cereal. The ingredients represent these raw materials as well. Also, the price of the cereal represents the labor aspects of the cost of production because the price ensures that the laborers can be paid. ]]> 2018-02-20 00:51:36 UTC https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233093855 dgfouts18 https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233093976 People do not waste gasoline because it is expensive for people to buy, but they must buy it. So, producers can make huge profits off of gas, and this makes the resource very precious. Therefore, they do not waste it. ]]> 2018-02-20 00:52:11 UTC https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233093976 dgfouts18 https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233094173 I experienced diminishing marginal utility when I was watching New Girl on Netflix. At first, I was super in to the series. But eventually, I started to realize all the other things I could be doing and all the other shows or movies I could be watching, and New Girl became less useful to me. ]]> 2018-02-20 00:53:12 UTC https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233094173 dgfouts18 https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233094265 When the price changes, the quantity demanded changes very little. Medicine has inelastic demand for most people. When the price changes for medicine, the quantity demanded will change very little. This is because medicine is a necessity and people need to buy it no matter what the price. ]]> 2018-02-20 00:53:47 UTC https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233094265 dgfouts18 https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233094326 An electrician service has inelastic demand for most people because people need electricity in their houses, and so they will hire an electrician if something goes wrong no matter what the price is or if the price increases a lot. ]]> 2018-02-20 00:54:13 UTC https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233094326 dgfouts18 https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233094371 When the price increases a little, the quantity demanded changes a lot. To most people, tickets for a vacation have elastic demand. If the price of tickets changes even just a little, people will not buy them. The tickets are something that they can go without and their demand changes a lot when the prices changes by a little. ]]> 2018-02-20 00:54:30 UTC https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233094371 dgfouts18 https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233094435 A service that has elastic demand to most people is eating out and waitress service because this is something that can be viewed as a luxury and people will go without it if the prices increase, even by just a little. If restaurants started charging people a little more to pay their food servers better, most customers would stop eating out and the demand for this service would decrease a lot. ]]> 2018-02-20 00:54:45 UTC https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233094435 dgfouts18 https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233094507 When the price of water- water bills, bottles of water, etc.- changes, the quantity demanded changes very little. This is because water is considered a necessity. You need water to survive, so you are willing to pay whatever is necessary to get water. ]]> 2018-02-20 00:55:08 UTC https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233094507 dgfouts18 https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233094742 As weird as fidget spinners are, a bunch of people suddenly wanted them. They became very popular very fast. And before you knew it, every store you walked into had fidget spinners supplied and for sale to the huge jump in people who wanted them. So, the supply became very elastic, meaning many people were able to get the fidget spinners when they wanted them. ]]> 2018-02-20 00:56:20 UTC https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233094742 dgfouts18 https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233094926 Something that has inelastic supply is condos in Boulder. As the prices of condos change, the quantity supplied changes very little. Because of the issue that there are not very many condos being made with the price changes, it is very difficult to get a condo because not very many are available. ]]> 2018-02-20 00:57:19 UTC https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233094926 dgfouts18 https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233095099 If the price went up for wall clocks, event just a little, people would stop buying them all together. Less people probably buy clocks now than before because they can just look at their phone and use their phone screen as a clock. The advancing technology has caused less wall clocks to be demanded, which is changing the elasticity of supply.]]> 2018-02-20 00:58:02 UTC https://padlet.com/dgfouts18/jq84ub7pj2zx/wish/233095099