Comments on: “Living” evidence of a determinant of demand at work in the deserts of Northern India http://welkerswikinomics.com/blog/2008/05/05/living-evidence-of-a-determinant-of-demand-at-work-in-the-deserts-of-northern-india/ for students and teachers of AP and IB Economics Mon, 13 Oct 2008 13:56:26 +0000 http://wordpress.org/?v=2.5.1 By: Steve Latter http://welkerswikinomics.com/blog/2008/05/05/living-evidence-of-a-determinant-of-demand-at-work-in-the-deserts-of-northern-india/#comment-6038 Steve Latter Tue, 07 Oct 2008 08:33:16 +0000 http://welkerswikinomics.com/blog/2008/05/05/living-evidence-of-a-determinant-of-demand-at-work-in-the-deserts-of-northern-india/#comment-6038 Our class uses TRIBE for the determinants of demand & TRENT for the determinants of Supply: Demand Shifters: Tastes Related Goods Impact (Complements & Substitutes) Income Buyers, number of Expectations Supply Shifters: Technology Resource Costs Expectations Number of sellers Taxes & Subsidies Our class uses TRIBE for the determinants of demand & TRENT for the determinants of Supply:

Demand Shifters:
Tastes
Related Goods Impact (Complements & Substitutes)
Income
Buyers, number of
Expectations

Supply Shifters:
Technology
Resource Costs
Expectations
Number of sellers
Taxes & Subsidies

]]> By: Mr. D http://welkerswikinomics.com/blog/2008/05/05/living-evidence-of-a-determinant-of-demand-at-work-in-the-deserts-of-northern-india/#comment-6036 Mr. D Tue, 07 Oct 2008 03:04:19 +0000 http://welkerswikinomics.com/blog/2008/05/05/living-evidence-of-a-determinant-of-demand-at-work-in-the-deserts-of-northern-india/#comment-6036 TIMER is the acronym that my students seem to like. I haven't discussed 'special circumstances' as a determinant, but I suppose that would just make it 'TIMERS' Tastes Income Market Size Expectations Related Goods TIMER is the acronym that my students seem to like. I haven’t discussed ’special circumstances’ as a determinant, but I suppose that would just make it ‘TIMERS’

Tastes
Income
Market Size
Expectations
Related Goods

]]> By: Kfz Versicherung http://welkerswikinomics.com/blog/2008/05/05/living-evidence-of-a-determinant-of-demand-at-work-in-the-deserts-of-northern-india/#comment-6017 Kfz Versicherung Sun, 05 Oct 2008 07:10:03 +0000 http://welkerswikinomics.com/blog/2008/05/05/living-evidence-of-a-determinant-of-demand-at-work-in-the-deserts-of-northern-india/#comment-6017 I have bookmarked this informativ site. Thanks Kfz Versicherung I have bookmarked this informativ site. Thanks Kfz Versicherung

]]> By: Bjorn Kvaale http://welkerswikinomics.com/blog/2008/05/05/living-evidence-of-a-determinant-of-demand-at-work-in-the-deserts-of-northern-india/#comment-5942 Bjorn Kvaale Sun, 28 Sep 2008 17:36:35 +0000 http://welkerswikinomics.com/blog/2008/05/05/living-evidence-of-a-determinant-of-demand-at-work-in-the-deserts-of-northern-india/#comment-5942 As the price of oil increases, the quantity demanded for oil will decrease. (Law of Demand) The demand for camels is rising in India because the price of tractors is too high. As the price of oil increases, the price for tractors also increases because it is a complement (O in TOEISS). The farmers have a relatively small nominal income, so as the price for trucks go up, the farmer's real income will go down (income effect). Therefore, the farmers in India are looking towards substitutes, such as camels to farm their land. As the demand for camels is increasing, the price of the camels is also increasing. The camels are nearly expenditure-free after being bought. As the world is looking for the enemies of global warming, the Indian farmers have found a good alternative solution other than the gas-guzzling trucks. Camels are both cheap and "fuel-efficient." As the price of oil increases, the quantity demanded for oil will decrease. (Law of Demand) The demand for camels is rising in India because the price of tractors is too high. As the price of oil increases, the price for tractors also increases because it is a complement (O in TOEISS). The farmers have a relatively small nominal income, so as the price for trucks go up, the farmer’s real income will go down (income effect). Therefore, the farmers in India are looking towards substitutes, such as camels to farm their land. As the demand for camels is increasing, the price of the camels is also increasing. The camels are nearly expenditure-free after being bought. As the world is looking for the enemies of global warming, the Indian farmers have found a good alternative solution other than the gas-guzzling trucks. Camels are both cheap and “fuel-efficient.”

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