Question

There is a very distinctive concept related to demand that is expressed in this video. Identify...

There is a very distinctive concept related to demand that is expressed in this video. Identify and define this determinant of demand. I am not looking for your "take" on the song. What is Macklemore referring to in the song, that you have read about in the chapter on demand? Why do you think this concept relates to what you have read?

The video is Thrift shop

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

The video talks about the price of the goods and having a limited budget where Macklemore is ready to buy stuff from the thrift shop where the price for the good are less and so the demand for those goods are more. Apart from that a thrift shop is considered as n inferior market where demand will increase when the income is low.

With just $20 with them Macklemore brought some cool stuff at a low price and as the price was low the demand was high even for the inferior goods. As per him people who buy costlier goods are scammed by the business because that same cloth is available for a cheaper price.

Video wants to convey the fact that as the price comes down the demand will increase and with low income people will demand more from the inferior goods.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
TASK: Explain the technical details of an engineering-related topic, either a technology or a technique (for...
TASK: Explain the technical details of an engineering-related topic, either a technology or a technique (for example, a particular type of cell phone battery, a method of 3- D printing, a test performed in a wind-tunnel, advanced material process, biological extraction technique.) This should be an explanation, not just a description. You must say how something happens, or how something does something. Think about the entities, activities, and interactions you are referring to. Your goal is to demonstrate that you...
Can someone please clarify for me the following... I am very confused in chemistry when it...
Can someone please clarify for me the following... I am very confused in chemistry when it comes to orbitals and what exactly they mean and represent. Like let's take a random element.. for example Fe. Iron has an electron configuration of 1s22s22p63s23p64s23d6, but what exactly does that mean? Please answer the following to help me understand: 1. When I read 1s22s22p63s23p64s23d6, does this represent a single electron in Fe or does it represent all of them at once? 2. If...
Reflective practice Purpose At the beginning of this subject, some of you might be thinking ‘Why...
Reflective practice Purpose At the beginning of this subject, some of you might be thinking ‘Why do I need to study finance? I am not working in a finance related role. An understanding of finance is very important for a manager in carrying out their full scope of responsibilities effectively. In your current role as a manager, it is likely that you are often involved in setting targets and the preparation of budgets for your department which invariably requires a...
Identify all anatomical structures related to and/or that are being affected based on the patient case...
Identify all anatomical structures related to and/or that are being affected based on the patient case information. (i.e. tissues, organs, vessels, brain components, membranes) Explain how the anatomical structures and their physiological function/dysfunction are interrelated normally and what is going wrong with the structures in this current patient case information. Identify and explain possible a diagnosis and what can be done to fix or reverse the current situation described in the patient case information. Please be specific and detailed. Patient...
Video Transcript: >> When Nick Pasqua gets home from school, he eats, checks in with the...
Video Transcript: >> When Nick Pasqua gets home from school, he eats, checks in with the folks -- >> Almost an hour of Italian. >> Okay, just make sure you get it done. >> And heads upstairs to his multimedia center, something previous generations called a bedroom. >> What do you got going in here? >> Xbox, a GameCube, TV, videos. >> The choices are endless. >> Video camera, I have Gameboys. This, which is like an iPod but it...
Please reply to this post by a classmate. 150 words minimum. This topic is very interesting...
Please reply to this post by a classmate. 150 words minimum. This topic is very interesting to me as I have never thought about my strengths or weaknesses of my writing skills. I believe a strength that I have in writing is the fact the I read and reread everything that I type before I send it on to anyone. I look to make sure all words are spelled correctly and that all my grammar is used correctly. I try...
1. Identify two different behaviors from the following scenario and then identify the type of convergent...
1. Identify two different behaviors from the following scenario and then identify the type of convergent thinking you think best explains each behavior. Aiden is single and looking for a romantic partner. Aiden starts by dating anyone who is single, but doesn't find a good match. Next Aiden joins a singles group expecting to find a romantic partner, but discovers it's a group for friendships only. Finally, Aiden tries an online dating site that matches people by common interests. 2....
This week, I ask that you identify three interrelated markets that allows you to demonstrate your...
This week, I ask that you identify three interrelated markets that allows you to demonstrate your understanding of when an event causes movement along the demand curve (a change in quantity demand), and when an event causes the demand curve to shift completely (a change in demand).  For example, consider the demand for Hot Dogs, Hot Dog Buns (a complement of hot dogs), and Hamburgers (a substitute for hamburgers). Now, for some reason, the price of hot dogs decline.  What...
PHILOSOPHY 6. Lisa has become very cold. She can hardly walk out of bed. Lisa's friend...
PHILOSOPHY 6. Lisa has become very cold. She can hardly walk out of bed. Lisa's friend Jasmin advises her to drink a tea made of birch leaves, which according to Jasmin himself often healed her own colds. To their surprise, Lisa becomes healthy after drinking birch leaves for just three days. She therefore thanks Jasmin and states that the birch tree tea has cured the cold. Does Lisa have a good reason to draw this conclusion? Is her conclusion reasonable?...
Week 1: Discussion - Case Study Judy* No unread replies.No replies. YOU MUST COMPLETE THIS TO...
Week 1: Discussion - Case Study Judy* No unread replies.No replies. YOU MUST COMPLETE THIS TO PASS THIS CLASS. After carefully reading and studying the content in Chapter 1, read and answer the case study questions and post them to the discussion board. Week 1, Chapter 1 Discussion Case Study- Judy Assignment Instructions: Use critical thinking and apply the information you learned in chapter 6. Answer all the questions completely. Write a well written paragraph to answer each question. Your...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT