Friday 8th May 2018

Microsociety Journal week 7

Supply and Demand.

This week in Microsociety we looked at Supply and Demand and what this meant.Supply means an amount of products/items there are in a business,where as demand means how/what the costumer wants.For example,my demand was that the business would have a sale on the supplies in the stationary section.

After we talked about what this meant,we traded our products/items and tried to work out if it was a sucsess and a profit or a disaster and a flop.My business was a great profit because in a few weeks we went from 0 Wakes to 45 Waks. Other businesses were not as sucsessfull as us because there products were not useful and people did not have any interest.

Some businesses even had auctions for there costumers,they did not like the price for a product which was 50 Waks so what better way to sell something for an auction. Plus the manager of that business will still get a lot of money out of it.

This week we have also had to pay our taxes which for some people it was easy but on the other hand it was tough. We all got into a queue and counted our money. I had 132 Waks,i had spent a lot of money, and had to pay only 1 Wak.To get to 1 Wak you need to divide the amount of money you have in total by 100.132 divided by 100 = 1.32.

Next week we might just have our first court case with Mr Toress and Mahamed. But that's next week so you will have to wait and see.