Jason Lee
Mr. Schaffer
Econ
2012/11/26
Digital wallet
Referring to an article on The Economist " War of virtual wallet", credit card company's join together to form a united payment method called "digital wallet". Which I personally think its a great idea. With this costumer not longer have to put their information with every payment, they simply just enter their username and password when purchasing an item. We learned about how technology is a determinants for supply, in the article it explains how in this technology advance world moving payments online would bring more costumer. Once many card payments are joined together, discounts or coupons could be easier distributed between the costumer, which is very convenient when it comes to holidays or big sales. With this people will be able to get hold of their payment much easier than before .Now days with app on smart phones which provides many use such as this digital wallet. Your personal phone can be where you purchase items, right in your hands. Through this I believe that not only the firms would benefits form but also the costumer would benefit from it.
Monday, November 26, 2012
Monday, November 5, 2012
hw 11/6
Jason Lee
Mrs Schaffer
Econ
2012/11/05
Starbucks vs Folgers
In my situation I have never tried Folgers coffee therefor I would not have a demand curve for Folgers coffee. By looking at the price at Walmart Folgers coffee appears to be more affordable then Starbucks coffee. Now just by looking at the prices, for a average person it seems to be more likely to purchase Folgers coffee rather than Starbucks due to the price. But when your income rises, buying Starbucks coffee doesn't affect as much as before then demand for Starbucks would increase. When buying Starbucks coffee is same as buying Folgers coffee, the demand for Folgers will decrease. In this case the inferior goods would be Folgers coffee and the normal goods would be Starbucks coffee. When your income did not increase, you will purchase Folgers coffee because it is more afforded. Starbucks on the other hand would be to expensive to purchase on a daily basic. Therefor the demand curve for Folgers coffee decreases when your income rises because it is not a issue to purchase the better coffee. On the other hand the demand curve for Starbucks will increase. Remember that this outcome accounts only price, other determent-ant such as taste would also affect the demand curve.
Starbucks vs Folgers
In my situation I have never tried Folgers coffee therefor I would not have a demand curve for Folgers coffee. By looking at the price at Walmart Folgers coffee appears to be more affordable then Starbucks coffee. Now just by looking at the prices, for a average person it seems to be more likely to purchase Folgers coffee rather than Starbucks due to the price. But when your income rises, buying Starbucks coffee doesn't affect as much as before then demand for Starbucks would increase. When buying Starbucks coffee is same as buying Folgers coffee, the demand for Folgers will decrease. In this case the inferior goods would be Folgers coffee and the normal goods would be Starbucks coffee. When your income did not increase, you will purchase Folgers coffee because it is more afforded. Starbucks on the other hand would be to expensive to purchase on a daily basic. Therefor the demand curve for Folgers coffee decreases when your income rises because it is not a issue to purchase the better coffee. On the other hand the demand curve for Starbucks will increase. Remember that this outcome accounts only price, other determent-ant such as taste would also affect the demand curve.
Subscribe to:
Posts (Atom)