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Economic Essay: Sparacino, Comm, And Self

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Skywalker Li December 11th, 2015 Ms. Sparacino, Comm. and Self Economic Essay Economics is the secret overlord that control our every move. But we are fighting back. In life, when we are liking something or sharing something we think we are just showing our interest, but really we are changing the way companies focus their marketing strategy on us. Economics is really about the people. There are many aspects of economics that are controlled by the average person. The reason stores has all of the things we want is because of us. When we like stuff, we change the things companies make and the things in the stores. Supply and demand are all based on what the consumer wants. Economics may control us, but we also have the power to change …show more content…

The invisible hand is the driving force behind economics. When you buy something, you are changing what the store will give you and what ads are shown to you. For example, if you want to buy a banana, you want to get the cheapest and best banana possible. So you go to a store that sells good bananas for 1 dollar. Then another store might open up and sell equally good bananas for 50 cents. Obviously you would go to the cheaper store and because of this, the first store is losing customers. Then the first store would lower their price and so will the other store. Because all of us are buying and selling things in our own self interest, we are controlling economics in our everyday life. We are part of the invisible hand, guiding the economy with us. Another example is Adam Smith. His theories supported the “let do” economists who argued that the government only interfered with the economy. That means that he thinks that the government should back down and let the invisible hand ( the average consumer) do its thing. The invisible hand is an important part of economics, but it is not alone, a big part about economics is supply and …show more content…

For example, Disneyland has thought of increasing the price when there is a lot of people and lowering the price when there is not that many people. This is an example of supply and demand because it shows that when there is a lot of consumers, the price will go up. Then if there is not a lot of consumers, the price will go down to convince other people to come. When the demand is high, the price will increase. When the demand is low, then the price will decrease. For example, if a store has a lot of customers, it will increase the price of it’s items. Then, if the price is too high and people start leaving, the store will decrease the price in hopes of getting back those customers. Another example of supply and demand is how all of the store has the things you want. The reason why the stores have the things you want is because of supply and demand. Since a lot of people already want something, there is a lot of demand for it. Because of this, the companies increase the supply to meet the demand. Supply and demand are important topics, but how do you know if the thing you want is a want or a need. In the next paragraph you will learn how wants and needs also control the

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