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Just when I thought you were finally understanding that price is not contingent solely on the concepts of supply and demand. {sigh}
I never said it was base solely on supply and demand.
What I did say is that you do not understand the conept behind supply and demand and it's relationship to price and units. And without this understanding all deeper thought would be flawed as supply and demand is the foundation.
You don't understand the basics of supply and demand. How can you go deeper when what you say about the basics is wrong? It's like discussing the finer point of driving with someone on the wrong side of the road.
I'm surprised you entertained him as long as you did. I'm sure that you realize he is making up 90% of the things he says.
I never said it was base solely on supply and demand.
What I did say is that you do not understand the conept behind supply and demand and it's relationship to price and units. And without this understanding all deeper thought would be flawed as supply and demand is the foundation.
Indeed, most of what he is saying is explained by shifts in the demand curve, and is just a small expansion on the very basics.
That's where you work. Please don't think is everywhere.
While it's nice your company does this, I take issue that only women can take off when they have kids. What about people who don't have children? What if they need to take care of an ill family member?
I think there should be PTO for those who have no spouse but ill close family members such as a mom, dad, sister or brother that is unable to take care of themselves as well. There is significant discrimination against single people in the employment sector. BTW, I am married.
No, you gave a bad example using x and y. You had ill defined terms, and no curves.
At price Y, my demand will be for x units--irregardless of the supply of same. At price 3Y, my demand will drop to 1/3x ...and I might not even purchase it at all.
Let's say, for example the PRICE of a national brand of soda, like Pepsi, is 3 times the amount of the generic equivalent. Do you think I'm going to buy the national brand, irregardless of what it's supply might be? My demand for the national brand will be nonexistent, regardless of how plentiful the supply is.
I'll buy the generic.
And I'm not the only one doing so. But apparently, not enough people are doing so to make Pepsi lower it's price any. Instead, they chose to play tricks like decreasing the size of the case, to make people think they'd gotten a good deal for a change.
At price Y, my demand will be for x units--irregardless of the supply of same. At price 3Y, my demand will drop to 1/3x ...and I might not even purchase it at all.
Let's say, for example the PRICE of a national brand of soda, like Pepsi, is 3 times the amount of the generic equivalent. Do you think I'm going to buy the national brand, irregardless of what it's supply might be? My demand for the national brand will be nonexistent, regardless of how plentiful the supply is.
I'll buy the generic.
And I'm not the only one doing so. But apparently, not enough people are doing so to make Pepsi lower it's price any. Instead, they chose to play tricks like decreasing the size of the case, to make people think they'd gotten a good deal for a change.
As soon as you wrote the statement I put in bold your concept is wrong. Price does not change demand. Demand and supply control price and quantity.
The price P of a product is determined by a balance between production at each price (supply S) and the desires of those with purchasing power at each price (demand D). 2, along with a consequent increase in price (P) and quantity sold (Q) of the product.
Also "irregardless" is not a word.
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