P. 1 Supply and Demand Writing- Read all questions - Find Link in Google Classroom by Michael Pitts

Write all questions in your own words. Show your work as best you can.

mpitts25 — 2023-02-06 17:44:33 UTC

1. Define service in terms of Economics
2. How does supply change with price? How does demand change with price?
3. What is the difference between physical and human capital?
4. What is a Demand unique to one demographic? Why?
5. Math - Use Absolute Value: Yesterday, the price of envelopes was $3 a box, and Julie was willing to buy 10 boxes. Today, the price has gone up to $3.75 a box, and Julie is now willing to buy 8 boxes. SHOW YOUR WORK
a) What is the % change in demand?
b) What is the % change in price?
c) What is the elasticity? % change in Demand / %change in Price
d) Is this elastic or inelastic? Elastic > 1. Inelastic < 1

ana

2023-02-07 14:05:15 UTC

1-actions/activities that one person performs for another
2-producers offer more of aa good / service as it price increases/less as it price falls.if price goes up, demand goes down
3-human capital is the skill , knowledge, snd experience possessed by an individual or population while physical capital are human made objects used to create other goods and services
4- female products are commonly used for younger women but when they get older and go through menopause, they won't need them anymore because of age.
5- a) 2/10=0.2x100=20% difference in demand
b)3-3.75=0.75/3=0.25x100=25% difference
c) 0.8 elasticity
d)it is inelastic because it is less than 1.

Ivan, Richard, Ashley

agarciaparra774 — 2023-02-07 14:10:42 UTC

1. Our actions or activities that one person performs for another.
2. As supply goes up it also goes down. And also as demand goes up price goes up.
3.Physical capital can be an actual building, and human capital is the workers.
4. Ex: Latinos like Modelo Beer and Corona Beer, because it's a cultural get together thing, and has been there for generations
5. 3.75x 8= $30
a. The percent change in demand is 20% (10-8=2 2/10= 0.20 x100=20)
b. The price change percentage is 25% (3.75-3= .75 .75/3= 0.25x100= 25)
c. 0.8 is the elasticity
(10-8= 2 2/10=0.20 0.20/0.25 =0.8)
d. It's inelastic because it is less than 1

Diamante Almonte

dalmonte238 — 2023-02-07 14:10:49 UTC

1. Actions that a person performs to satisfy their needs and wants by making choices.
2. Producers offer more of a good or service as it's price increases and less as its price falls.When a good's price is lower, consumers will buy more of it.
3. Physical capital is human made objects used to create other goods and services. While human capital is the skills, knowledge, and experience possessed by an individual or population.
4. A demand unique to one demographic is gender, women buy a supply of pads/tampons while men don't.
5.
a) 10-8= 2, 2/10= 0.2 x 100= 20% change in demand
b) 0.75/3= 0.25 x 100= 25% change in price
c) 20/25 = 0.8% - Elasticity
d) Inelastic- Less than 1

vanessa

2023-02-07 14:11:22 UTC

1) actions or activities that one person performs for another, such as medical care
2) supply change with price because as the price rises, suppliers are willing to produce more. Demand change in price because at higher prices, consumers buy less.
3) the differences between physical and human capital is physical capital consists of inanimate assets such as cash, job site equipment, property, and inventory. Human capital, meanwhile, describes the skills, knowledge, and capabilities associated with a company's personnel.
4) female products because younger women uses these products and when they are older they wouldn't use it anymore
5A) 2/10 = 0.2x100 = 20%
5B) 3-3.75=0.75/3=0.25x100=25%
5C) 0.8 elasticity
5D) inelastic because it's less than 1

Najah Godette

2023-02-07 14:11:48 UTC

1) Actions and activities that one person performs for another
2) Producers offer more of that good when the price increases and less of that good when the price falls; the higher the price, the less people buy
3) Physical capital is objects that are used to create other goods and services while human capital is how their skills are viewed in terms of their value
4) Supermarkets are unique to one demographic because most people want goods for a cheap price.
5) The percent change in demand is 0.2 and the percent change in percent is 0.25. The elasticity is that Julie cut back on the amount of boxes she was going to get because the price got higher. It’s inelastic because it’s less than 1.

Henderson & Edward

hnunez235 — 2023-02-07 14:12:04 UTC

1
In economics, a service is an intangible commodity.
2
As the price increases supply rises while demand decline.
3
The difference between physical and human capital, is that physical capital is the labor factor of productions, whereas human capital are human made resources that is used to produce other goods.
4
A demand unique to one demographic is that old people normally buy canes
5
a)20% difference in demand since it went from 10/10 to 8/10
b)3.75-3=0.75/3=0.25x100=25
c)0.8 elasticity
d)Its less than 1 so its inelastic

yoan

2023-02-07 14:12:07 UTC

1)are actions or activities that one person performs for another
2 )supply changes with price because if the prices goes up demand changes cause if the price is higher then people buy less
3)Physical capital consists of cash, job site equipment, property, and inventory. Human capital, meanwhile, describes the skills, knowledge, and capabilities associated with a company's personnel.
4)female products are an example because young women use female products but when you get menopause you dont need them anymore
5)a-2/10=0.2x100=20% difference in demand
b)3.75=0.75/3=0.25x100=25%difference
c)0.8 elasticity
d) it is in elasticity because it will be less then 1

John

2023-02-07 14:12:16 UTC

1) Service is the action or activity a person does for someone else, such as medicaid.
2) Supply changes with price in that as prices increase, the supply of that good also increases. Demand changes with price in that as prices decreases, the demand of a good will increase.
3) Physical Captial means goods made from human-made objects. Human Captial is the knowledge and skills of a worker utilized in a work environment.
4) A demand unique to one demographic would be adult diapers because only the elderly would use this product.
5a) 10 - 8 = 2, 2/10 = 0.2 = 20%
5b) 3 - 3.75 = -0.75, -0.75/3 = -0.25 = 0.25 = 25%
5c) 20%/25% = 80% (0.2 / 0.25 = 0.8)
5d) This is Inelastic because the elasticity is 0.8, which is a value less than 1.

Jimmy Sarmeinto

jsarmiento933 — 2023-02-07 14:16:41 UTC

1) Service is the action or activity a person does for someone else, such as medicaid
2) supply changes with price in that as prices increases, the supply of that good also increases, demand changes with price in that as prices decrease, the demand of a good will increase.
3) The difference is that physical capital means goods made from human-made objects. Human capital is the knowledge and skills of a worker utilized in a work environment.
4) A demand unique to one demographic would be adult diapers because only the elderly would use this product.
5a) 10-8=2, 2/10=0.2 20%
5b)3.00-3.75 =-.75, -.75/3=-0.25 25%
5c) 20%/25%=80%(0.2 / 0.25=0.8)
5d) This is Inelastic because the elasticity is 0.8, which is a value less than 1.

Yesenia

ycano300 — 2023-02-07 18:56:04 UTC

1. Service areaction or ativities that one person performs for another. Medicare and hair cuts are services.
2.Supply changes with price when supply increases prices also increases. If demands increase the prices decreases.
3. Physical capital is human made objects used to create other goods and servies. While human capital is knowlegde and skills a worker gains and utilizes for human capitals.
4. A demand is the desire to own something and the ability to pay for it. Demographic are the statistics charatierisitics of population such as age and race. Women don't need birth control after there fertilzation ends since they got old.
5. a) 10-8=2, 2/10=0.20= the change in demand is 20%.
b) 3.75-3=.75 / .75/2=0.25x100= The price change percentage is 25%
c. 10-8=2 / 2/10=0.20/0.25=0.8
d. it's inelatist becasue it is less than one.

Jan

jhildevert138 — 2023-02-12 19:41:09 UTC

1- Are actions or activities that one person performs for another

2- The higher the supply the lower the price is and the higher the demand of the product the higher the price

3- Physical capital is human made objects used to create other goods and services while human capital is the skill, knowledge, and experience possessed by an individual or population

4- A demand unique to one demographic would be baby diapers because only babies would use this product

5-
A) 10-8=2 2/10=0.2 0.2X100=20% Difference in demand

B) 3-3.75=0.75 0.75/3=0.25
0.25X100=25% Difference

C) The elasticity is 0.8

D) It's inelastic, less than 1

Omar

2023-02-17 02:42:03 UTC

1) Service is when a person does an action for a customer like bring their food to their table

2) As supply changes with the price increasing so does the supply of that good also increases. Demand also changes when the price decreases the demand increases.

3)Physical capital means human-made object that are created to provides goods or services and human capital is the knowledge, experience that an individual or population has.
4) A demand unique to demographic is baby formula because babies only use this product.

5) 10-8=2, 2/10=0.20= the change in demand is 20%
b: 3,75-3=.75 / .75/2=0.25x100= 25%. The price change percentage is 25%
c: 10-8=2 / 2/10=0.20/0.25=0.8
d: It is Inelastic because the elasticity is 0.8 and is less than 1.

Ezequiel Aybar

eaybar009 — 2023-03-15 12:38:13 UTC

1. Actions or actvities that one person performs for another person.
2. Supplies chnages with price beacuse as price rises, suppliers will produce more product. Demand changes price because when the price is higher, consumers will buy less
3. The difference between physical and human capital is physical capital consists of inanimate assets like cash or property. While, human capital describes the skills, knowledge, and capabilities of a person working for a company.
4. Female products because once a women hits a certain age, they don't really have use for certain products.
5. A) 2/10 = 0.2*100 = 20%
B) 3 - 3.75 = 0.75/3=0.25*100=25%
C) 0.8 eelasticity
D) Inelastic because it's less than 1

Michael Diaz

2023-03-15 12:42:26 UTC

1. actions or activities that one person performs for another.

2. The higher the supply the lower the price is and the higher the demand of the product the higher the price.

3. Physical capital is human made objects used to create other goods and services while human capital is the skill, knowledge, an experience possessed by an individual or population

4. A demand unique to one demographic would be baby diapers because only babies would use this product.

5.
A)10-8=2 2/10=0.2
0.2x100=20% difference in demand

B)3-3.75=0.75 0.75/3=0.25
0.25x100=25% Difference

C) The elasticity is 0.8

D) It's inelastic, less than 1

Mia Luz Ulloa

2023-03-15 12:50:08 UTC

1) Service, in terms of economics, is an economic activity offered as a product (ie, labor).
2) Supply changes with price because the lower the price is the more in demand a product/supply is. Demand changes with price because the higher the price is, the lower the demand is and the lower the price is, the higher the demand.
3)The difference between physical capitol and human capitol is that human capitol refers to human labor while physical capitol refers to the labor of machines.
4)Demand unique to demographic is the marketing of a product towards a specific audience based on their race, gender, or age. This is done because it is beneficial for the company, since marketing their products towards a most likely to buy audience can save them money.
5)10-8=2/10=0.2x100=20%
A)20%
B)25%
C) 0.8
D)It is inelastic because 0.8 is less than one.

James Faustino

jfaustino328 — 2023-03-28 15:54:27 UTC

1.Service is when a person does an action for a customer like bring their food to their table .

2.Supplies changes with price because as price rises, suppliers will produce more product.Demand changes price because when price is higher, consumers will buy less.

3. The difference is that physical capital means goods made from human-made objects.Human capital is the knowledge and skills of a worker utilized in a work environment.

4. A demand is the desire to own something and the ability to pay for it. Demographic are the statistics charatieristics of population such as age and race. Woman don't need birth control after there fertilzation ends since got old.

5.) a-2/10=0.2x100=20%
difference in demand
b)3.75=0.75/3=0.25x100=25%difference
c)0.8 elasticity
d) it is in elasticy because it will be less then 1