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#1
10-06-2004, 12:36 PM
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High demand for useful Paul phillips comments
I enjoyed Paul's recent post about searching for the best of it; he's a good, succinct writer and I would like to see more of his thoughts on tournament poker theory etc.
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#2
10-06-2004, 01:05 PM
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There is a high demand...
because the supply is so small. Simple economics.
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#5
10-06-2004, 07:36 PM
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Re: There is a high demand...
[ QUOTE ]
[ QUOTE ] because the supply is so small. Simple economics. [/ QUOTE ] obviously not simple for you.... supply has no effect on demand. they are independent. [/ QUOTE ] I have no idea why I'm even bothering to reply in this thread, but supply very much has something to do with demand. Many industries (my own included) base supply ON demand. For example, if we are printing New Product X, and take pre-orders, we know that after pre-orders we'll sell an additional 50% more. So, if pre-orders are for X units, we'll print 1.5X units (or 1.6X units, so as not to initially sell out) but that overall supply is absolutely based on demand. The same is true in many businesses. Barron Vangor Toth www.BarronVangorToth.com
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#7
10-06-2004, 08:35 PM
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Re: There is a high demand...
[ QUOTE ]
[ QUOTE ] [ QUOTE ] because the supply is so small. Simple economics. [/ QUOTE ] obviously not simple for you.... supply has no effect on demand. they are independent. [/ QUOTE ] I have no idea why I'm even bothering to reply in this thread, but supply very much has something to do with demand. Many industries (my own included) base supply ON demand. For example, if we are printing New Product X, and take pre-orders, we know that after pre-orders we'll sell an additional 50% more. So, if pre-orders are for X units, we'll print 1.5X units (or 1.6X units, so as not to initially sell out) but that overall supply is absolutely based on demand. The same is true in many businesses. Barron Vangor Toth www.BarronVangorToth.com [/ QUOTE ] Your response has absolutely nothing to do with the claim that supply has no effect on demand. Do you see why?
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#9
10-06-2004, 08:45 PM
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Re: There is a high demand...
I would personally LOVE to hear how supply and demand are not interelated? From my recollection that is one of the first theories that is beat into your head in micro and macro. Demand drives supply and vice versa.
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#10
10-06-2004, 09:22 PM
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Re: There is a high demand...
[ QUOTE ]
[ QUOTE ] [ QUOTE ] because the supply is so small. Simple economics. [/ QUOTE ] obviously not simple for you.... supply has no effect on demand. they are independent. [/ QUOTE ] I have no idea why I'm even bothering to reply in this thread, but supply very much has something to do with demand. Many industries (my own included) base supply ON demand. For example, if we are printing New Product X, and take pre-orders, we know that after pre-orders we'll sell an additional 50% more. So, if pre-orders are for X units, we'll print 1.5X units (or 1.6X units, so as not to initially sell out) but that overall supply is absolutely based on demand. The same is true in many businesses. [/ QUOTE ] As "supply" and "demand" are used in economics, SossMan is correct. As they are commonly used in everyday English, you are correct. In economics, "supply" doesn't mean "how many widgets there are." It isn't a number; it's a function. It refers to the number of widgets that will be produced for each of a given range of sales prices. "Demand," meanwhile, is also a function: it refers to the number of widgets that will be purchased for each of a given range of sales prices. The supply function and the demand function are indeed independent of each other. They are related in the sense that they necessarily intersect at P=MC in a perfectly competitive market; but that doesn't mean the two functions are inter-related. If you shift the demand curve to the left, that doesn't have any necessary effect on the supply curve; and vice-versa.
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Linear Mode
