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Do you remember when the Wii came out around Christmas time in store? It  was pretty hard to find. This is another example of how supply and demand affect our lives but at the same time Nintendo took advantage of it. The Wii was the hottest toe and everyone wanted to get one which gave this new gaming device a high demand. Nintendo decided to make a limited amount to increase buyers demands for their new product giving them the possibility of increasing the price. If there is a high demand for a product, businesses will make sure their product or service is priced high allowing them to make more money and making us pay more for something that is worth cheaper than they make us believe. 

Do you remember when the Wii came out around Christmas time in store? It  was pretty hard to find. This is another example of how supply and demand affect our lives but at the same time Nintendo took advantage of it. The Wii was the hottest toe and everyone wanted to get one which gave this new gaming device a high demand. Nintendo decided to make a limited amount to increase buyers demands for their new product giving them the possibility of increasing the price. If there is a high demand for a product, businesses will make sure their product or service is priced high allowing them to make more money and making us pay more for something that is worth cheaper than they make us believe. 

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15 students want to take drama, there are 3 drama teacher, there are more teachers then the amount needed. Supply and demand can affect jobs such as teaching. The demand for the class is low but the teacher supply is high. You can’t exactly divide 15 students into 3 different classes, there would be no point in having 5 kids in a class. Therefore 2 teachers will have to teach something else or go to a different school. Supply and demand can be used in school to determine how many teachers the school would need to hire for each class so they don’t go over than what they need.

15 students want to take drama, there are 3 drama teacher, there are more teachers then the amount needed. Supply and demand can affect jobs such as teaching. The demand for the class is low but the teacher supply is high. You can’t exactly divide 15 students into 3 different classes, there would be no point in having 5 kids in a class. Therefore 2 teachers will have to teach something else or go to a different school. Supply and demand can be used in school to determine how many teachers the school would need to hire for each class so they don’t go over than what they need.

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Supply and demand doesn’t only apply to businesses it also affects school, extra-curricular, pretty much anything you can think of, supply and demand has some kind of role in it. As your demand for a service or good goes up the it’s supply goes down and if your demand for it goes down it goes up. The supplier and the buyer have to try and come to an agreement which is your equilibrium.

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Business is a strategy. Companies, who can get consumers to believe they need something, are the winners. Getting consumers to believe they need your product, will raise the demand for that product, making it a success.  Supply and demand becomes the main influence on our lives, playing the economy and toying with our minds.

Business is a strategy. Companies, who can get consumers to believe they need something, are the winners. Getting consumers to believe they need your product, will raise the demand for that product, making it a success.  Supply and demand becomes the main influence on our lives, playing the economy and toying with our minds.

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Here is another Apple commercial where Apple is pointing out all of Mac’s flaws moving the consumer to think they need a Mac because PCs are small screened, slow, always crashing and gets a lot of viruses. There are people who do believe that PC’s are better than Mac’s. In reality its all opinion based. The problem most people have is trying to figure out what is their opinion and which is the company’s

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You watch commercials and you see new products. Do you ever think to yourself “I need that”.  Businesses try to get into consumers heads to convince them that their wants are their needs and that you must have a certain product or do a certain thing to survive in life, to be accepted in society. You can say that they are trying to affect your Social Needs; to feel that we are accepted by others. Take a look at this Apple commercial, I’m a Mac. They compare the Mac’s to the PC’s and try to make the consumer see that the Mac’s are better. They show you a crowd of people who you would believe are going to upgrade their PC’s but in reality they are just switching to a Mac. This shows you that to fit in with the crowd you got to get a Mac, that group of people are switching to Mac so you should too. For all of you who already have PC’s at home and occasionally consider switching to Mac’s, you are an example of businesses getting you to mistake your wants with your needs. 

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"Our necessities never equal out wants"

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Benjamin Franklin

He was a wise man and a great inventor. What we need (our necessities) to survive life can never have the same meaning as what we want.

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Everybody has wants, and needs as well. Sometimes people think that their want is a need making them go for their want. If your money is limited you have to be careful that you know the difference. 
You WANT to eat dinner at a restaurant, but, you NEED to pay your rent. So you forget the restaurant, applying the money you WOULD HAVE spent at the restaurant, to your rent.
You have to make sure you don’t impulse buy because not being able to control yourself or know the difference can really affect your financial life. People have to learn to concentrate on getting what they need before they go for what they want. I’m sure everyone wants to be able to wear the best clothes, eat at the nicest restaurants, and have the nicest items. Don’t forget it is alright to treat yourself to a want every once and a while.
What do you NEED to survive and what do you WANT to please yourself?

Everybody has wants, and needs as well. Sometimes people think that their want is a need making them go for their want. If your money is limited you have to be careful that you know the difference. 

You WANT to eat dinner at a restaurant, but, you NEED to pay your rent. So you forget the restaurant, applying the money you WOULD HAVE spent at the restaurant, to your rent.

You have to make sure you don’t impulse buy because not being able to control yourself or know the difference can really affect your financial life. People have to learn to concentrate on getting what they need before they go for what they want. I’m sure everyone wants to be able to wear the best clothes, eat at the nicest restaurants, and have the nicest items. Don’t forget it is alright to treat yourself to a want every once and a while.

What do you NEED to survive and what do you WANT to please yourself?

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It’s funny how now a day’s need and wants are so easily confused among society. We always say “Oh I need that” and only on occasion do we say “I want that.” Think for a moment, do you really need an HD TV with a Blu-ray player. No, you just want it, an accessory to add to your house, a look you want to have in society to show you keep up with the times. You just want that TV there is nothing wrong with a TV that’s 15 years old if it still works, it definitely lasted you longer than the one you want ever will. A need is a good and/or service that is necessary for survival, so food, water, a shelter. A want is a good/service that is considered a luxury not necessary for survival but adds pleasure or comfort to your life. Take time guys to think and get it right do you need it or do you want it??

It’s funny how now a day’s need and wants are so easily confused among society. We always say “Oh I need that” and only on occasion do we say “I want that.” Think for a moment, do you really need an HD TV with a Blu-ray player. No, you just want it, an accessory to add to your house, a look you want to have in society to show you keep up with the times. You just want that TV there is nothing wrong with a TV that’s 15 years old if it still works, it definitely lasted you longer than the one you want ever will. A need is a good and/or service that is necessary for survival, so food, water, a shelter. A want is a good/service that is considered a luxury not necessary for survival but adds pleasure or comfort to your life. Take time guys to think and get it right do you need it or do you want it??