- This story from Planet Money illustrates supply and demand at work. It shows how the price of a ride on Uber increases during a snowstorm.
- Read the article linked from this post: Pig market. It discusses the effects of a virus that is killing young pigs and lower grain prices on the price of pork.
- This article reports that the price of tickets to the Super Bowl is falling. The forecast today, 1 week out, is for temperatures between 35 and 30 with a 20% chance of precipitation. Perhaps that forecast makes watching the game (and the commercials) in the comfort of your home on your new big TV look better and better.
- This article in the WSJ reports that propane prices rose as temperatures fell. It is a good introduction to supply and demand. It links higher prices to higher demand, mentions possible shortages, and has at least one example of a reduction in the quantity demanded.
- This video shows how changes in demand affect the price of Hula Hoops.
A collaborative blog for Principles of Microeconomics taught by Edward Millner @ Virginia Commonwealth University.
Friday, January 22, 2016
More optional material for L09
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