What is the #DemandCurve in #Economics?

18 May

What is the #Demand Curve in #Economics?
Demand is the number of products the buyers are willing to purchase.

In #Microeconomics, we often look at the demand of one company or buyer.

In #Macroeconomics, we sometimes talk about Aggregate Demand (how many are will all buyers in the market purchase at each price). 

Below is a simple explanation of the Supply Graph and what you need to know!

Let’s say that Mike is buying pencils from Metro (Màidélóng)

We want to know what price should Metro charge?

Demand Curve.jpg

This picture is very helpful! The light Green Line  (Demand – 需求) tells us how many pencils Mike will buy at each price.

Situation #1: The price is $3.00, Mike is willing to buy 50 pencils.

Situation #2: The price is $1.00, Mike is willing to buy 70 pencils.

Situation #3: The price is $4.00 and Metro has 30 pencils. Will Mike buy them?

Answer: Yes! Mike wants 40 pencils, of course he would buy 30 if they are available.

Situation #4: The price is $4.00 and Metro has 50 pencils. Will Mike buy them?

Answer: No! Mike only wants 40 pencils, so he is never going to buy 50.

So we could draw the picture like this:

Demand Possibility.jpg

So what is the Demand (需求) Curve?

  • It tells us the MAXIMUM (最大) number of products Mike will buy at each price.
  • It tells us how many products Mike will NOT buy.
  • It gives us an idea of what price we should choose. For example, if the price is $8.00, Mike won’t buy any pencils!

Law of Demand (需求法则) ~ When price increases (), buyers will be willing to buyer less products than before (when price goes up, we buy less).

#Luxury Train #Travel in China!

17 May

#Businessclass on #China trains is THE BOMB! So nice 😮❤️ The Chair lays back into a bed!!! Woah! Only 6 chair available in the car. For a 4 hour trip, cost me about $150.00 on a sold out trip.

The End of the Future — When You’re a student anyway

15 May
Supposed to meet a student today to talk about how to study for the final (he had a hard time on the middle exam). Super easy.
 
Student — 26 messages including 14 horror faces 😱 9 sobbing faces 😭 and 3 weeping piggies.
 
Me — Darlin! Are you okay? Is the world over? Has life ended?!?
 
Student — TEACHER! (more sobbing faces) . . . My building had no power (true). My phone died and I didn’t get the alarm. I went to sleep and I forgot our meeting! Will I pass the test!?! Will I fail!?! Dear teacher, what should I do! (Another weeping piggy).
 
Me — Darlin — no fears, there’s this awesome fun word called RESCHEDULING!
 
Student — 😮Wow! We can do that?
 
Me — Sweetheart, I am Queen Olivia of the Economics classroom known as Olivia Country. There is nothing I can’t do 😎 Mwahahahahaha I am powerful! 😂🤣
 
Teaching — the power is addicting. Also, they are calling me Queen Olivia now because we keep talking about Olivia Country in economics 😅

Guess What’s for #Dinner! #Seafood!

11 May

#Starfish and #Sea slugs. . . It’s What’s for dinner 😂🍴🐠🦀

Price of Related Goods (PR) in #Economics

3 May

An #Infograph for my Chinese students in #microeconomics and #macroeconomics 

When we study Supply and Demand in #economics, we learned that one of the factors that changes them both is Price of Related Goods.  

  • Supply — The number of products the company has available to sell at all prices
  • Demand — The number of products the buyers will purchase at all prices
  • Quantity Supplied — The number of products supplied at a specific price
  • Quantity Demanded — The number of products demanded at a specific price
  • Inverse Relationship — When Y ↑   then X ↓ — Line goes down
  • Direct Relationship — When Y ↑  then X   ↑ — Line goes up

#business #studyguide #econ 

new-piktochart_30078936

#CherryBlossoms of #Sapporo

29 Apr

Finally got to see the cherry blossom of Japan – bucket list wish accomplished!

#Sapporo #Japan Night life!

29 Apr

At #Sapporo Tv Tower waiting for #night to set in! Was a beautiful #sunset – now to see one of the ‘#Top3 Best night views in #Japan’

#KPOP sighting! ~ Target was flying fron ICN to Japan!

27 Apr

Excitement!

The new #KPOP band #Target were flying with us today to #Japan! We Checked in right beside them and then flew out on the same flight.

I hadn’t heard of them yet, but the Fan girls were out on force and brought me up to date 😀 4th KPOP band I’ve seen on my travels!

Awesomeness!

#music #koreanmusic #pop #kpopband #instakpop #koreanpop #music #band

#LaborDay and #SpringBreak ~ Off to #Japan!

26 Apr

Off on sping break for the Labor Day Holiday! Got a Five day break so I’m headed to Japan! Haven’t been there since 2013 so I’m super psyched! 😃

It’s Spring!

23 Apr

It’s #Spring!

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