Week #6

Part 1: This week we began learning about demand. We began by looking at Xbox and Playstation, and their techniques for creating demand. Next we learned about what also helps influence demand. This included: tastes and preferences, related goods, income, buyers, and expectations. This was shortened down to T.R.I.B.E. for easy memorization. Basically, besides price, demand has to do with what is popular, whether other goods can replace their counterparts, the amount of income consumers have, the number of buyers available, and preparation for the future. These are the things that affect demand, this and of course the price of the good. Lastly we learned how to shop. When I say this I mean how to shop effectively. For example, creating a budget when shopping or using coupons to save money. We learned various ways to save money when shopping and how stores try to get you to buy more. This was it for this four day week.

Part 2: When I have children I am not entirely sure of what I am going to name them. However I will probably not name my children a common name at the time. This is because of many reasons, which include: getting confused with other people that have the same name and being hard to remember because a common name is hard to associate with a face where as a unique is not. Also unique names are interesting, they are different and more fun that common ones. Min you, have a name that is too unique is bad because then it becomes hard to say and often people forget how to say it. For this reason, when I have children they will be named with uncommon names.