Demand Headlines

1. Complementary 

Peanut butter sails fall when Jelly production stalls. 

1. Substitute 

As milk production comes to stand still, soy milk profits sky rocket.

1. Elastic

Family chooses to buy food instead of a brand new home, THE NATION IS SHOCKED

1. Inelastic

The population of the Southern states drop once air conditioner production stops completely.

Due to a lack of resources, the companies that make air conditioners have ceased production. Now that may mean nothing to northern states, due to colder weather, but for the south that would mean utter chaos. Most, who can afford to move, have moved to other states while this problem persists. Though, those who can not, have stayed and dealt with the problem. There has been a spike in heat strokes in the streets along with injuries that come with them. The company said that they are not sure when they are able to make air conditioners soon, but the people have spoken and THEY NEED AIR CONDITIONERS. 

Maaaarrrrkets

Supply/Demand, do you support this type of Economic System?

Our Supply and Demand system in this economy is a working system with a few faults, just like any other economy. When a high demand in the country arises, our government does a good enough job in trying to supply that for consumption. Does it sacrifice quality for a speedy product? Unfortunately, yes. But does that mean when they product breaks down, will the consumer buy it to replace the broken one? Fortunately for the company making the product, that is the nature of consuming good and services. 
Compared to other Economic Systems, we really don't have it that bad. We could have every good that we ever need belong to the government. We could also have taxes on everything that we have ever needed or wanted. Unfortunately, this economic system does have it's own set of issues. Poverty, theft, over use of resources, etc.

Opprotunity Cost

Most recently, I was given a tough choice between two things that I could do next week. On Wednesday, we are having S.H.O.U.T which starts early in the morning (earlier than I wake up anyway). Either I could go to S.H.O.U.T, learn some new things about myself and the people I got to school with and miss out on class. Or I could not go, give them my slip to tell them I am not going, sleep in my normal time, and go through the same day at school with nothing interesting happening.

Scarcity

In my life, money is very scarce due to the fact that both my parents are unemployed at the moment. I do have a job though, but I don't work enough nor earn enough to help with the bills.