Wednesday, September 25, 2013

     Demand, how much people desire said product. The law of demand states that price and quantity demanded are inversely related. In other words, as one goes up, the other goes down. Which makes sense to me in that if chocolate is expensive, you will buy less of it. Or if chocolate is only a dime per bar, you might as well buy ten for a dollar, and in doing so increase the quantity demanded. As for the reality of things, a dime per chocolate bar will only exist in my wishful thinking.

Thursday, September 19, 2013

     Marginalism, how much our items really worth? If you we're stranded in the desert and were given the choice, would you choose a diamond over water? The water has more marginal benefit to you because you need it at that point in time. However, the diamond has more marginal value because you could sell it for lots of money. Reluctantly, the smart move would be to take the water, unless of course you are survivor man, in which case the diamond may seem more worthwhile.

Wednesday, September 11, 2013

Chemical Weapons in Syria
   Obama gave a great speech about the chemical warfare in Syria. I for one, am always biased towards whatever resolves the problem without a fight, for I believe that all fighting is barbaric and unwise for the sophisticated people of today. However, when it comes to terrorism my opinion on fighting is difficult to maintain. When it comes to terrorism, I side with Obama that we should not appease this behavior. When bad things happen and no one says anything, it is as if we are agreeing that it was right to do. We know this is wrong, so we must act. Only then will we be able to rest easy, knowing that even in the chaos of war, there is still some form of law we can all count on.
~Cody Nicholson