https://padlet.com/okknudsen17/x6ofu4dqnyml Understanding supply and demand helps me better understand my economic surroundings by being able to get things. I also understand my needs and wants along with my necessities and luxury items. So please enjoy my Supply and Demand in photos. en-us 2016-10-04 16:28:09 UTC 2024-12-15 10:27:15 UTC hello@padlet.com okknudsen17 https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/128246597 I do not buy candy normally, but at Target when Hersheys Candy Cane Chocolate Bars are on sale I always buy a lot more then I need. This shows Law of Demand because the less expensive this product gets the more I want of it. ]]> 2016-10-04 16:36:00 UTC https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/128246597 okknudsen17 https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/128249929 I never got my nails done or bought acrylics until I got a job. This shows income effect because without my extra flow and access to money I would still have ugly fingers. ]]> 2016-10-04 16:44:02 UTC https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/128249929 okknudsen17 https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/128251447 I woke up sick and dying so I went to the market for medicine. I did not want to spend twice as much for Vicks so I spent the 3$ on the Top Care brand. This is an example of the substitution effect because needed medicine but i did not want to spend a lot for something i needed for today. ]]> 2016-10-04 16:48:05 UTC https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/128251447 okknudsen17 https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/128872457 Lately highlight palliates have been at a rise. More companies have been making high light palliates but the best one is Anastasia's. More people will buy it because it is so much nicer and looks better. They cost $40 and honestly I would pay 60$ ]]> 2016-10-06 15:58:10 UTC https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/128872457 okknudsen17 https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/128875505 To make my lipstick there first needs to be people. People stir all the ingredients and the ingredients have special stuff to give me moisture and matte. Then a person puts it into a mold and then a tube so i can then use the product. ]]> 2016-10-06 16:05:52 UTC https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/128875505 okknudsen17 https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/128877470 I do not wear make up on weekends to maximize my profit motive. This helps me not waste my makeup because i do not impress anyone on weekends. ]]> 2016-10-06 16:11:08 UTC https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/128877470 okknudsen17 https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/128878081 When I go to California for the summer i always always get boba tea. I love love love boba and can get up to 5 cups a day. The minimum is 2. By the end of my 3 week vacation i get one every other day and sometimes i don't buy them for about a week. This is my diminishing marginal utility. After a certain amount of boba i am done getting it .]]> 2016-10-06 16:12:32 UTC https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/128878081 okknudsen17 https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/128880590 I take prescription medicine. This is not needed for everyone but for me i need it very much. This is inelastic because no matter what i need this medication. ]]> 2016-10-06 16:17:46 UTC https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/128880590 okknudsen17 https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/129015808 I will forever get my hair done and cut professionally. I will always pay someone to do my hair and this shows an inelastic service. I will always do this because the one time i trusted someone who was not a professional i turned into Lord Farquaad. ]]> 2016-10-07 03:55:13 UTC https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/129015808 okknudsen17 https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/129016526 I love Victoria Secret underwear but if the price were to go up I would stop buying it. With tax, it is already over 31$ for underwear and thats not really worth. I would change brands and stop shopping if the price goes even $0.50 higher. ]]> 2016-10-07 04:07:47 UTC https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/129016526 okknudsen17 https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/129017035 I love getting my feet done because feet are gross and i refuse to touch them. But even so if the cost of pedicures went anything above the 25$ i spend now i wouldn't get it done. I would have my sister do it or i would just paint my own toe nails. ]]> 2016-10-07 04:17:04 UTC https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/129017035 okknudsen17 https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/129017474 Something that has an increased must need value for me is Michael Kors handbags. This is an inelastic demand quality to me because it is beyond important to me to look good and have quality over quantity. I would never ever where anything knock off. This is totally different for most people because people do not care about purses and fantasize over fashion like i do. ]]> 2016-10-07 04:25:03 UTC https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/129017474 okknudsen17 https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/129017844 A recent elastic supply would be at my work. At Hayes market there are solar butterflies and they went out of stock VERY quickly so for the tent sale we ordered A LOT of them. And they sold very quickly because we had a lot of people at the store that day. ]]> 2016-10-07 04:34:35 UTC https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/129017844 okknudsen17 https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/129018081 Saffron is a very exotic spice that only grows in Spain. It is very expensive and not commonly used. Because of this most people either leave it out of dishes or do not cook dishes with saffron in it due to its expense. This would show an inelastic supply that is harder and less commonly received and purchased. ]]> 2016-10-07 04:42:20 UTC https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/129018081 okknudsen17 https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/129255271 Nutella is made in a factor with tube dispensers, automated lid put oners, and a lot of staff making sure the machines work efficiently. This shows that Nutella has a very high elastic demand because technology helps make it faster and more supply of Nutella. That makes me very happy because i love Nutella. ]]> 2016-10-07 22:19:52 UTC https://padlet.com/okknudsen17/x6ofu4dqnyml/wish/129255271