https://padlet.com/yungospaghetti/wz0xho617u6gmh56 By David Osagiede en-us 2021-03-29 21:47:34 UTC 2021-03-29 23:07:10 UTC hello@padlet.com yungospaghetti https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1365908488 Today you will be learning about the details of the law of supply, and information pertaining to the law of supply.]]> 2021-03-29 21:49:28 UTC https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1365908488 yungospaghetti https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1365923256 https://www.investopedia.com/terms/l/lawofsupply.asp

The website gives us a general description of the microeconomic law, specifically the law of supply and defines it as the cost of a good/service rises up, the amount of the service/will also increase, this also applies the other way around. The website gives an example of a graph that gives us a demonstration on how the law of supply works using a supply curve and the correlation between the amount of services produce and price rising. It ends off with the website giving us real life examples.

I choice this video/Website because it clearly explains the law of supply with simple examples that are relatable to real life.

In the video it defines the law of supply and using some visual examples to better illustrate the law of supply using objects such as boxes and showing how the increase of services/goods also is connected with a higher increase of prices. It also shows us this as well in a similar manner to the website with a graph to display the law of supply and correlation between increases between prices and good/services. It gives some additional info about the law of supply in how in the real world the variables aren't always constant and that is more of a theoretical concept, it also states how other things can affect the pricing of the supply.]]> 2021-03-29 21:58:24 UTC https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1365923256 yungospaghetti https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1365947583 Source: https://www.investopedia.com/terms/l/lawofsupply.asp

The image here displays how the as the supply of a goods/services increase the prices steadily goes up as well. Showing that there's a direct correlation between  the amount of a product supplied and price eventually rising up]]> 2021-03-29 22:13:57 UTC https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1365947583 yungospaghetti https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1365955884 Source: https://www.bookmyessay.com/law-of-supply-assignment/

The image below shows two arrows representing how the price and supply of a product are directly correlated and how if the price goes up the supply as well increases, and when the price goes down the supply of the product/good decreases.


]]> 2021-03-29 22:19:12 UTC https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1365955884 yungospaghetti https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1365965360 https://forestrypedia.com/law-of-supply/

The website goes into detail about the definition of the law of supply, which the price and supply being connected and shown to react in a similar way with both the price and supply using rising if either one rises and vice versa. Also in this site is also describes the advantages of the law of supply and how is fundamental to learn the law of supply in order to be knowledgeable in the subject of economics and how it shows the connections between the price and supply, showing us that learning about this topic is important.

I choice this website because it shows the advantages of knowing the law of supply and it explains it well.]]> 2021-03-29 22:24:53 UTC https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1365965360 yungospaghetti https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1365975843 https://www.ratespy.com/who-repealed-the-law-of-supply-and-demand-opinion-091615871

In this article it talks about how the law of supply and how the housing prices for Canadians continues to rise up, making it more difficult to purchase a house without a decent mortgage rate. It talks about how there's a shortage of houses that are at a reasonable price. It also talks about how someone will always be at a disadvantage in this situation for the average consumer, and how the large cities need changes that can help assist in this issue since they are the ones who are impacted by this the most.

I choice this website because it represents issues in Canada the most compared to the other webites


]]> 2021-03-29 22:32:18 UTC https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1365975843 yungospaghetti https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1365986067 https://www.futurelearn.com/info/courses/what-is-economics-in-the-world-of-global-logistics/0/steps/95725

The website below defines the law of supply as a positive correlation between the supply of the goods/services and the cost of it. It shows a graph to show visually how this is the case, where the quantity supplied and the cost both rise in a similar manner. It also talks about what determinants of the supply and how other influences can change the scope of the supply at hand. It also talks about how the government can directly affect suppliers which shows how many influences can affect of overall supply of goods/services.

I choice this website because it displays the how other sources can affect the supply of products/goods in a reasonable manner.


]]> 2021-03-29 22:39:40 UTC https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1365986067 yungospaghetti https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1366005004 https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/basic-economics-concepts-macro/supply/v/law-of-supply

I choice this video because it gives us a good demonstration of the law of supply and its a good source for general education.

This video describes and defines the law of supply which the connection between the supply of a product/goods and how its related to the price. It also shows a visual representation of this with more in depth learning examples to help us fully understand the law of supply.


]]> 2021-03-29 22:52:20 UTC https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1366005004 yungospaghetti https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1366009880 https://courses.lumenlearning.com/suny-wmopen-introbusiness/chapter/the-law-of-supply/

I choice this video because it gives us a nice display of how the law of supply is affecting the cost of products/services and gives a good visual to represent this.

This video shows us that the relationship between is supply of a product/goods and the price has a strong relationship between each other. It shows gives us good examples that relate to the topic of the law of supply and overall summarize well the law of supply and its importance in the economy.


]]> 2021-03-29 22:55:44 UTC https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1366009880 yungospaghetti https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1366015455 https://www.youtube.com/watch?v=9ml4fA_b1No

The reason i choice this video is because it gives us good visuals of the law of supply and the types related to it.

This video shows us the connections between the price and quantity of goods/services. This video also shows the types related to the law of supply. It teaches us the importance of the law and supply and also describes the supply curve and the correlation between the law of supply and how it connections with the supply curve. It overall summarizes the law of supply well, with details including factors that affect it and influences as well.]]> 2021-03-29 23:00:04 UTC https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1366015455 yungospaghetti https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1366020811  1. What did you learn about your topic that surprised you the most?
I was surprised that the government could easily influence the law of supply and suppliers to the degree that they can.
 2. Provide a real-life example of how this topic is relevant or interesting for you. 
The lockdown increased prices for food which affects my parents and makes them spend their money more wisely, than even before.
3. If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on? 
Try and buy products when the supply is low for it for a cheaper purchase. I would give this advice to my parents.]]> 2021-03-29 23:04:11 UTC https://padlet.com/yungospaghetti/wz0xho617u6gmh56/wish/1366020811