https://padlet.com/hmgodfrey17/keg3kzqjysdj CREATED BY HANNAH GODFREY en-us 2016-10-04 15:26:52 UTC 2025-11-06 13:39:13 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Terminator.png hmgodfrey17 https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/128218722  Knowing what supply and demand is gives me incredible super sonic economic powers; I can make choices about the things I want in life with a more educated influence than the consumer next to me who doesn't know monkey about the economy. Knowing my economic surroundings is extremely important in terms of predicting what the people around me will do, I can understand patterns now and I can avoid making blind choices.

]]> 2016-10-04 15:35:39 UTC https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/128218722 hmgodfrey17 https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/128224276 For my lip ring I was willing to pay a maximum of $50.00 to have the service of getting my lip pierced and the jewelry at that time.]]> 2016-10-04 15:46:51 UTC https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/128224276 hmgodfrey17 https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/128227131 When I get paid, I tend to buy more burritos because I demand more burritos and I have more money now to buy them with. ]]> 2016-10-04 15:53:06 UTC https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/128227131 hmgodfrey17 https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/128536194 In substitution for on brand Nutella, I bought the cheaper generic brand of hazelnut spread. ]]> 2016-10-05 15:53:30 UTC https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/128536194 hmgodfrey17 https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/128538638 I would think suppliers will want to make more iPhone 7's because they are the new expensive phone so they will make more off this product. T]]> 2016-10-05 15:58:57 UTC https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/128538638 hmgodfrey17 https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/128539983 I chose rainforests for this example because rainforests and their natural resource are a cost of the goods I purchase, such as books, lined paper, and folders etc. ]]> 2016-10-05 16:02:00 UTC https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/128539983 hmgodfrey17 https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/128542759 I think profit motive is to use everything in an oil barrel. They use the oil and the tar substances, they use every drop of the resource because it is scarce. ]]> 2016-10-05 16:08:10 UTC https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/128542759 hmgodfrey17 https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/128545198 I've experience diminishing marginal utility with my car. When I bought it it was worth 3,000 dollars, but now it's not even worth 1,000 and soon it will be totaled when the cost of keeping my car healthy outweighs it's utility. ]]> 2016-10-05 16:13:47 UTC https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/128545198 hmgodfrey17 https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/128547403 In my family, Netflix is a must. So even if the price of Netflix were to increase, we would continue to faithfully subscribe because we love Netflix.]]> 2016-10-05 16:19:07 UTC https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/128547403 hmgodfrey17 https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/128549577 Milk is inelastic for my family, we do not live without milk and the price doesn't mater to us, nor effect the demand quantity we have for it. ]]> 2016-10-05 16:23:37 UTC https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/128549577 hmgodfrey17 https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/129299482 I think most people are elastic about Menchies frozen yogurt. It's a nice thing to have during the summer but if it became too expensive people wouldn't have the incentive to buy it as much]]> 2016-10-08 20:24:57 UTC https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/129299482 hmgodfrey17 https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/129300074 I think music radio stations are most likely elastic in demand for most people. It's a nice thing to have but there are substitutes and other things to replace the radio stations with. Let's say one has to pay to listen, they might just not listen anymore. ]]> 2016-10-08 20:42:21 UTC https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/129300074 hmgodfrey17 https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/129300348 My personal demand for wifi is pretty inelastic. I will pay any price to have it and I won't stop buying it. ]]> 2016-10-08 20:49:43 UTC https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/129300348 hmgodfrey17 https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/129300603 Recently a lot of people have most likely wanted red and blue hair dye to dress up like Harley. Suppliers easily can accommodate to this fluctuation in demand.]]> 2016-10-08 20:58:11 UTC https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/129300603 hmgodfrey17 https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/129300719 I think the demand for free college at this point is pretty inelastic but I really want it. The government can only supply so much to it's people. ]]> 2016-10-08 21:02:08 UTC https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/129300719 hmgodfrey17 https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/129300831 I think drones are definitely changing the elasticity for the amount of soldiers needed in the military. Perhaps someday we won't even need live action soldiers. ]]> 2016-10-08 21:05:22 UTC https://padlet.com/hmgodfrey17/keg3kzqjysdj/wish/129300831