Supply and Demand

Micro Soci

Week 7

Supply and Demand

According to Oxford school Dictionary, the

supply of something is "to make something

available to someone", which is happening

in most of our businesses. However, the demand of something means a consistent request. In one business that makes money wallets, lots of demand is in place but in other companies the supply is high and the demand is low.

In Micro Society this week, we read a story about people living on notenuf who became very wealthy when they began making very strong rope to sell. They got their materials very cheaply before they gave it to the public; when it was released the price raised and we discussed how they should cope and what they should do.

Anyway, I had lots fun and are very excited for the nearest simulation.