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To: RipSawyer; newgeezer
Hogwash. However, given the rest of your post, it seems a matter of semantics and/or definition of terms. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

I am still trying to figure out if he actually said anything and, if so, what was it he said.

When I see economic ignorance on display, I try to inform and educate. Contrary to the popular belief of the economically ignorant, neither demand nor supply changes in response to a change in price. Changes in demand and/or supply drive price changes; they do not result from them. If you can continue reading this before your eyes glaze over, I will try to offer some explanation of why this is true, with a little primer from a basic Economics 101 class.

Demand is the relationship between price and quantity demanded. The Law of Demand states that ceteris peribus, or other things being equal, if the price of a good increases then the quantity demanded of that good will decrease. Demand, or the relationship between price and quantity demanded, is represented graphically by the demand curve, which is a line represented the quantity demanded for the good at different prices. As market conditions drive changes in price, the quantity demanded will go up or down, even though demand itself hasn't changed. You are correct that it is a matter of semantics and/or definition of terms, but since words matter and meanings matter, when someone discusses economics or economic issues such as "demand" one should use those terms with their proper meaning and in their proper context or else one is simply spreading ignorance.

Here is a graphical representation of a change (increase) in demand:

In this example, we see that as a result of the increase in demand, at a price of $2.50, the quantity demanded increased from 40 units to 60 units. We would also see that with the initial demand curve, if the price increased from $2.50 to $3.00, the quantity demanded would fall from 40 units to approximately 30 units.

17 posted on 06/25/2006 5:14:53 PM PDT by VRWCmember
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To: VRWCmember; RipSawyer
If you can continue reading this before your eyes glaze over,

You and the high horse you rode in on.

23 posted on 06/26/2006 5:06:46 AM PDT by newgeezer
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