Wednesday, May 20, 2009


We are learning about economics in class here's some useful information.

When some one is making a product to sell they are making a supply of something, how many people that buy the product are making a demand, and they are the consumers. The equilibrium point is when the two points; supply and quantity, meet. The price goes up and down depending on how many people buy this product, for example; not many people are buying the product so the price goes down to see if people will start to buy it because it's cheaper. The quantity also changes because of the price. The producer makes the money I think. And they put all of the stuff I just said into a graph to find the equilibrium point. This is about the relationship between the producer and consumer. I like a bit of retail therapy sometimes, actually a lot of the time so I definitely help the market.

Here's a link to the site I used to help me find all of this amazingly useful information:

Thanks for reading!

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