Supply and demand



What is supply? What is demand?
Develop a model of a market, utilizing supply and demand. What are the dominant variables or parameters?
What is a shortage? What is a surplus? DEMONSTRATE (use model)
Via the model, explain the dynamic changes that can happen in a market. Give examples.
Relate the Micro economic model of supply and demand to the Macro-economic modal of Aggregate Demand and Aggregate Supply.
3. Essay Questions. Please answer all parts of each question.

What is Aggregate Demand?
Develop a model showing the importance and effects of Aggregate Demand on the overall economy.
What is Fiscal Policy?
What are the goals of Fiscal Policy?
What are the tools of Fiscal Policy?
Explain the how expansionary Fiscal Policy would be implemented.
What is the presumed result of the use of Fiscal Policy?
What are the criticisms regarding the use of Fiscal Policy?

Sample Solution

Supply and demand

Supply is a fundamental economic concept that describes the total amount of a specific good or service that is available to consumers. Demand is an economic principle that describes consumer willingness to pay a price for a good or service. Economists use the term demand to refer to the amount of some good or service consumers are willing and able to purchase at each price. Demand is based on needs and wants – a consumer may be able to differentiate between a need and a want, but from an economist`s perspective they are the same thing. When economists talk about supply, they mean the amount of some good or service a producer is willing to supply at each price. A rise in price almost always leads to an increase in the quantity supplied of that good or service, while a fall in price will decrease the quantity supplied.



Why the Apple Watch isn’t Worth Buying

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apple watch displayApple has persistently been the organization ready to dumbfound and stun. Its past CEO and master Steve Jobs was a virtuoso of advertising; when he was alive, Apple continued amazing its clients quite a long time after year. Notwithstanding, as of late Apple began to help to remember an old woman who attempts to act youthful; a portion of its items appear to be futile knickknacks as opposed to reasonable and progressive. This unflattering comment alludes to Apple Watch—one of Apple’s latest contraptions; despite the fact that Apple fans are now slobbering over it, there is, indeed, no motivation behind why somebody should pay a huge whole for this item.

There is nothing unique about the Apple Watch. Among the most significant highlights designers (and advertisers) stress is the capacity to show warnings when your telephone’s screen is bolted; approaching content investigation—the watch screens messages and other approaching data and recommends answer choices; fast voice informing and adaptable emoticons; a store of wellness capacities, for example, the estimation of pulse, an exercise coordinator, etc; Siri is generally ready, just as Maps (Mashable).

In any case, is this so extraordinary? The notice work basically moves the vibration from your pocket to your wrist when the telephone is off. Stick your iPhone to your hand with a pipe tape, and you will get a comparative encounter. The content examination framework, abstractly, is one of the most questionable and least required capacities. Where is the assurance that it will consistently work accurately? Despite the fact that it recommends conceivable answer alternatives, you will in any case need to peruse them to check whether the answer is precise; it doesn’t spare a lot of time. What’s more, on the off chance that you choose to not twofold check, and basically send the message immediately, simply envision yourself answering to your manager’s message with something like, “Heartbroken, darling, I have a migraine, how about we do it next time.” This capacity makes the communicator—the client—practically futile, leaving them as a latent observer. Brisk voice informing isn’t progressive either—huge amounts of applications can do that, beginning from Viber and winding up with fascinating (in the West) LINE. The equivalent goes for wellness capacities. With respect to adjustable emoticons, it is unquestionably not a what tops off an already good thing that costs $600.

Moreover, this contraption doesn’t fit the Apple condition well. The main adjust it can set up is with an iPhone. On the off chance that you, be that as it may, have an Apple telephone more seasoned than an iPhone 5s, be set up for your Apple Watch to be dormant and a segregated bit of plastic and metal. For what reason is it awful? Numerous individuals despite everything use iPhones of the fifth or even fourth era, since they work fine, and the new ones cost a great deal. In this way, on the off chance that they ever need to buy an Apple Watch, they need to pay extra $500 (roughly) for an iPhone 5s. Clients of Android telephones can’t utilize the contraption either (

The Apple Watch is a result of great showcasing. Of course, Apple has offered something that a great many clients promptly felt stunned and captivated with; in any case, behind this mass of amazement, they can’t see that the Apple Watch isn’t exceptional in any viewpoint. It is costly, it doesn’t function admirably in the Apple condition, it has a lot of capacities that any cell phone—even an unremarkable one—can perform at the equivalent, or surprisingly better level. Things being what they are, is it worth buying it? The appropriate response is in all probability no.


Clery, Adam. “Apple Watch: 10 Reasons You Shouldn’t Buy One.” N.p., n.d. Web. 21 Aug. 2015.

“The 15 Most Important Apple Watch Features.” Mashable. N.p., n.d. Web. 21 Aug. 2015.