Wednesday, May 20, 2009

Economics



At school today Mr Woodcock showed us a movie about supply and demand. It was actually quite interesting and it taught me a lot. It showed us about how the manufacturer is able to rise the prices very easily and you the consumer are sucked into buying things just if a celebrity you like does and add for it! Prices vary on how good the supply is , how hard the thing is to get and how much demand there is for the item. When the supply and demand are equal it is called and equilibrium point



Check out this website it is CHOICE

http://www.brainpop.com/socialstudies/economics/supplyanddemand/

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