In my opinion, the more powerful law is the Law of Demand. Without the demand of the customers there would be no need for a supply. I think this is why companies tend to put so much stress on customer satisfaction. In fact, if put on a graph, I feel that supply would be dependent upon demand.
I feel that the Law of Demand is more powerful. If we dont have demand then we would have an excess of supply and loss in profit. Companies would be spending more than gaining. Its about what the customers want not what we already have to provide for them.
I feel that the Law of demand over powers the law of supply. Without demand there would be no supply and goods and services could go to waste. If companies were supplying more than what was being demanded they would loose money. So to maintain a high demand and supply companies and businesses need guarentee complete customer satisfaction
I think supply is the more powerful because based on demand, supply has to keep up. Supply has production involved with it which is more powerful than just demanding something. I take it like this supply is physical and demand is literal. Depending on price and quantity the supply graph is positive.
I think the Law of supply is the most powerful one because without supply, there will not be firms or small businises for the community. Also factories for workers to work, but is up to the people to decide what to produce and be inform wants behind the products that are produced in these firms it makes the economy much stronger and increase our per capita basically our economy will grow much faster.
I believe that the Law of Demand is more powerful because its being demanded by us, and we might need it for survival purposes and supply is just there as a plus in life, not really a life and death situation.
I personally believe that the law of demand is more powerful. I think it is best if you have consumers who are demanding a certain product so that way you know how much to supply. If you produced tons of supplies without the demand, then you would have a bunch if products that no one wants, which is a waste of time and money.
I believe that the Law of Demand is way more powerful than supply. Without demand there would never be a supply.Demand determines which way the supply will go. Without demand our we would never know how much to produce. -Cynthia Inchaurregui
I think the Law of Demand is way more powerful. You can be supplied with thousands and millions of a product but if no one is demanding it, it all doesn't matter how much supply you have. People wanting or having a demand for something is first and more important. Then if you can supply them with it is second.
Personally I think that the Law of Demand is more important than the Law of Supply. The Law of Demand is more powerful because you have no reason for a supply unless there is a demand.Demand spurrs production which results in a supply of products but the presence of a supply will not spur demand. Dayna Wheatley
It depends and I am getting a feeling that all of your questions will have an answer that will "depend" upon many factors. Today we talked about price floors and ceilings and the effects that has on the demand curve. Supply relies on demand just like demand relies on supply. If demand is high, that will cause supply to increase along with the prices and quantity sold. Likewise, an increase in supply will cause will affect the quantity demanded by lowering price and increasing quantity.
Hands down Demand. Demand is what makes the world go round. Demand dictates what will be supplied, in nearly every instance. Logically without demand there would be no real need for supply. Supply can create new demands, but if the new supply simply fails then it was a waste of resources. I feel, in an effort to keep waste down, demand must take the lead. Raymond Beasley
I feel that each is as vital as the other because both are required to make the cycle go round. The law of demand makes way for the shifts in the law of supply. The law of supply yields the shifts in demand. -Susan Lo
Although I believe that both are essential to each other and economics, I would have to say that demand is more powerful. In order to need a supply, there must be a demand for something. Companies can create more of a supply of a good but they cannot create more of a demand, all they can do is try to influence people to consume.
I believe if it were to come down to choosing one, i would say the law of demand is more powerful than law of suppy. We, as individuals are the consumers and without consumers there wouldn't be producers. Producers base their products or items base on our needs and wants. So without the demand there wouldn't be a point for a producer to sell an item knowing that we might not buy it. For example, lets say a producer decides to sell calculators. They will be at a high risk because they don't know exactly how many will be sold or if they will even be needed by the consumers. This is why i feel that the law of demand tends to balance the supplies out because you will only supply as much as the consumer wants and needs. Angelica EScolero
I think the Law of Demand is more powerful. If companies had a surplus of supply they would be losing money, so demand is essential. Depending on consumers wants the supply can be figured. There is no reason for supply if there is no demand.
Well my comment got destroyed. Well since it did, I will sum it up with this. Supply will always out way only for the simple fact without supply there can be no demand. There's always demand even with no supply of anything...
Personally, I feel that demand is much more influential. Without demand supply means nothing. Also, demand is the basis for how much supply is needed, if there were no demand, the supply would be useless.
I think both demand and supply are both important due to the fact that supply is dependent on demand and vice versa. To have a demand you must have supplies and item to make the demand exist for example let say we didn't have the touch screen technology if we didn't have the supplies then there wouldn't be a demand for new touch screen technology, but if there was the demand for new technology then someone would make the supply needed for touch screen technology to come about.
I believe that the law of demand is more powerful because without a demand for a product we wouldnt know how much of it to supply. The law of supply can't be more powerful because we would always be either at a price ceiling or a price floor without knowing the demand.
In my opinion the Supply law is slightly more important than the demand law in an orderly persepective. Because, in order to have demand one must supply it, example back then people didn't have cell phones but since they (companies) produced them we got accostumed to them and now we demand them. But, if in the first place cell phones weren't supplied then we wouldn't of had demanded them so o badly like we do.
I believe the law of demand is more powerful because without demand, supply becomes unimportant. In a way, consumers control what needs to be produced by buying certain goods or services, and the producers react by providing those goods or services.
Greg: you are learning the ways of the Economist! "It depends" is always a pragmatic way to answer an economic question! Although, I promise--there will be questions with certain answers in the future.
i think they are both important because they affect each other is demand goes up then theres gotta be more supply if demand goes down less supply but if had to pick one i think demand is more important because it changes the other variable. if there is more supply that doesnt necessarily mean there is more demand for it because there could be low supply with large demand but that would be a shortage and lage supply but no demand that would make a surplus
i believe the law of demand should be overpowering because it has a direct focus on what we want and need. why would we want to overstock stuff we dont even want or buy instead companies should concentrate on making what the consumer wants. this will also help prevent companies from losing money from overstocking unwanted products.
I believe that the law of demand is more important than the law of supply because the law of demand always influences to the law of supply. We cannot ignore the power of supply, but the influence of many consumers is tremendous to social economy with goods and services. Even though companies supply many kinds of products, diverse economic activities cannot be made if there are a few consumers who could not be satisfied with the quantity of supply. Also, the influence of demand is quite powerful because the world demand can make more trades. These are the reasons why I think the law of demand is more important than the law of supply.
Demand is obviously more powerful. The definition of demand is to request urgently and forcefully. demand is for the people and the people are powerful. Supply would not exist if it were not for the demand by the people. Supply is highly influenced by the demand for the product that needs supplying.
I think demand is a more powerful force. If supply did not exist, the world would still demand goods in order to survive. However, if demand did not exist, there would be no reason for supply at all.
I believe that supply is more important then demand. The reason for this belief is because you wouldn't have to rely on other places for the demand. a perfect example would be our present time in America. we have become a demand country sure we get what we wont but if you have the supply i believe that you truly are the more powerful and control what you have and what you can give.
I think the law of supply is more important than the law of demand with concept. Let me take luxury bag example. I think just few percent of people in their own country lead their countries economy. Luxury bag is usually for wealthy women. This is because they can boast their success with that. However, if the bag is cheap, they cannot satisfy because they cannot boast their success. The more expensive, the more people want to get those. One percent people movement can have effect on their country economically.
Both are important. According to Economics terms, supply of the good/service must be present for "demand" to have taken place. Without demand the supply will of a good/service will go to waste and the business will go under.
i think law of demand is more important than supply. Most normal people demand of good. I think that is starting of economy. Also we know that consumers have big roles in economics. If the price increases, consumers less buy goods. Supplier react to consumer's act. Demand can change supply, so i think demand is important
i think the law of supply is more powerful because people need to keep up with the supply of the product in order to meet the demand. Things will always be demanded but the way it is obtained is more challenging and more important. People can demand all they want but if there is no supply then what are they going to do.
I think both supply and demand are just as important as each other because it depends on what kind of product we're talking about. If there is a demand for something then it would be supplied, so demand is important. If something is in high demand and there is not enough supplied, then supply is important. They both rely on each other equally.
I think that the law of supply and demand are equally important because of the fact that they go hand in hand. One does not want supply to be low if they have a high demand and yet one also does not want there to be too much supply for the low demand. Yet if there was one that could be more important I think that the law of demand is more helpful because it helps explain shortages as well as to explain what the people want
In my opinion, the Demand Law will be more important than supply. There is because the market exist so those company and factory can sold their product and service. The market would be the demand, because only when people need something there can made market exist. Therefor, since the demand is the cause of supply. The law of Demand will be more important than supply.
I think that demand is more powerful than supply. Without a high demand for something, the supply wouldn't be there. For example, since there was a high demand for the iPhone to be sold elsewhere other than AT&T, Apple has finally decided to sell with Verizon, and the supply for iPhones in Verizon is to increase while there is a high demand for them.
I think that they are both very powerful laws but I believe that demand is more powerful because although suply is important since it may inpire us to consume a certain product, it is up to the desire (demand) of the consumer to buy it.
I think that law of supply is more powerful than law of demand. There are lots of people in the world. Actually, the demands for goods are sufficient for companies which supply the goods even though the price is going up. Also, most major companies control market, they already have sufficient customers to buy their goods. I think that consumers cannot make the price of the goods. After companies make a price, we have no choice to change the price. We can choose buying the goods or not. But the price can be changed if the other companies make more same stuffs for more cheaper price. That is why I think that law of supply is more powerful.
I believe the law of demand is more important than the law of supply. Producers may have large amounts of supply but if you dont have the demand for all this supply the producers loose out on money and have to account for storage space for this surplus of supplies or just simply throw it out or donate it.
I think that the law of demand is the most powerful because without it, firms wouldn't have a need to fulfill when creating goods. The law of Demand is also much more powerful because it controls the law of supply.
I think that Supply is the most important because with no supply of something you really wouldn't have a demand for it because people are not aware of it as much. After people become aware of the product I think the demand is more important.
The best answere for this question would be that neither is more important than the other, that each law is better depending on what you are looking for. For instance, the law of supply would be better if you want to set things at high prices since prices and supplies corrolate directly while with higher demand the prices go down. However, if you are looking to get rid of all your stock of an item then you'd obviously want demand to be greater. Therefore, it is in my opinion that each law is just as useful and superior depending on the application of the law.
I don't think that one is more important than the other. Supply is necessary to drive the demand and demand is necessary to create the supply. I think what is most important is that an efficient balance be maintained between the two.
I believe that both are dependent for one another. On the other hand, I believe that Law of Supply is a bit more powerful because without supply there would be no demand for anything. These laws also set the price of the different products. This is also needed to maintain the equilibrium of the price and the quantity.
I think the Law of Supply is a more important than the Law of Demand. Supply is limited and the demand for certain goods can always be altered through incentives and marketing.
In my opinion the Law of Demand is more important. This is because if there is no demand for an item then there will be no supply because there are no consumers. This would cause an excess in production and a loss of money for the producers if there is no demand for their product.
Demand and supply go hand in hand and they are equally as powerful. Without the demand of something there is no need to supply it because it would not be efficient. Without the supply of something there would be no demand for it.
I believe that the law of demand is more powerful because producers supply the demands of consumers. If consumers do not buy alot of a product there is not alot of demand for it. So the producers will not supply as much of it.
I believe that the law of demand is more powerful then the law of supply because consumers demand for a product reflect on the amount that is going to be supplied. The price of a product changes as the demand and supply changes. So pretty much demand is the foundation of the producer's decisions. Demand helps decide the price and the amount supplied.
people will always have needs and demands that go along with them, people will never stop needing things. therefore i believe that the law of supply is more important than the law of demand. without a supply of goods society will crumble
This is quite difficult question. You cant have one without the other. Im sure there are a lot of people that would pay to use a time machine(demand) but we dont have one. then again it makes no sense to make something that wont sell. but IF i had to choose i would have to say demand because that is the idea that plants the seed of "how it can be done". Im sure someone had to agree there was a demand for something that was not created yet, kind of like the atomic bomb ...ok that wasnt a good example...
I think the law of demand and the law of supply both go hand in hand because the higher the demand, the higher the supply, and vice versa, the lower the demand, the lower the supply of items there will be.
The Law of Demand is more vital than that of supply,not only does it determine the price for goods/services, it can also determine their stock life, market, and the likelihood of supplemental goods and compliment goods in the market. More importantly demand plays a big role in the decision to supply a product, since it is used to determine the amount of risk a producer is willing to take on to make a profit. Therefore, a producer may only take on the risk of gathering the funds, time, and input needed to produce a product if they know the demand will counter it, and produce higher benefits. Though consumer demand is often determined by price it can also set it. Consumers can choose to purchase a product with a high price if they have a greater need and desire that the price doesn’t pose as great of a stress for them. Such is the case in the appeal of luxury goods; people pay thousands for game tickets when they can watch it for free at home. The simple explanation is that the demand from consumers is so high, that they are willing and for the most part able to make the purchase, therefore enabling the need for such a market. Similarly, supply for mp3 players has always been relatively high, just about every type of entertainment company supplies them at reasonable prices, however, this has not stopped the millions of people who decide to purchase an IPod, that sells for a much higher price than that of the other mp3’s, all because demand for an IPod is so great consumers are willing to make the higher purchase. Thus enabling Apple the ability to sell it for a higher value (affecting pricing), which in return also determines how the demand for supplements of the good will be affected. Demand can ultimately trump anything. -Susan S
To me it seems like Demand is far more important than supply for many reasons. The first reason is that supply is entirely dependent on demand. There is no point to having a supply if there is not demand for that item. That being said, if you have a high demand and not enough supply you don't completely lose, because that will boost the price of items. The other reason is that demand comes directly from the consumer, and the consumer is what business is based around. Focusing on demand makes it easier to get in touch with the consumer. -Jimmy Walker
these 2 concepts are very essential. in fact they are related, one has a main effects on the other. but i believe the law of supply is slightly more important. if we didn't have supply our demands will never be met. the demands are dependent on supply for some ways, for example if cars didn't exist, i won't be demanding cars. the human behavior is always demanding but what really matters is how to supply it.
I truly think that both laws are equally imporant. I don't think one law is more important than the other. The laws of demand and supply need each other equally. In order to have supply, there has to be some kind of demand for the product.If a company had supply and there was no demand for the product, that would be a waste; and if a company had a high demand for a product and couldn't supply it, that would also be a waste, seeing as the customers demanded it would have no way of obtaining it.
I believe that the law of demand is more powerful than the law of supply, but not by much. The reason i say this is because the majority of the population are consumers and what they decide has a great impact, weather it is a good or bad thing. One influences the other and vice versa.
I would say that Demand is more powerful. I only say this because our market today is very consumer driven. In other economies this could be argued, but in our country with numerous amounts of selection we always want want want. This drives our market and i think it effects the economy more.
I think that the law of demand is more powerful than the law of supply because without the decision of the consumer to buy the product the amount supplied is pretty much pointless. Consumer choices are what keep an economy moving, so regardless what the price or supply of a product is, without any demand there will be no economic progress. Charlie Newton
I think that the law of demand is more powerful because without supply there is no demand for goods and services. There for i think that the law of demand is dependent on the law of supply. The law of supply is more powerful because if it did not exist, then it would not matter if people demanded a good or service or had the money to buy that good because there would be no supply for people to buy.
I would say that demand is more powerful that supply because if there is more demand for a certain product than the supply won't put into factor if the consumer will not want to purchase the product. Therefore, there can be a lot of supplies of a product but if there is no demand then the supplier will not profit.
Choosing the importance between supply and demand is like choosing the importance between gas or wings of an airplane. However, in my novice economic mind, I believe that demand is more important. I say demand because I believe this is what has the most “exceptions" and areas of flexibility where businesses can thrive compared to supply. For example, demand for a particular item at a higher than normal price can be raised through a solid advertising campaign and how a company represents a product's image. Take the iPhone for example; if you were to take away all its popularity and hype, I really believe it would then be a little sister compared to blackberry and droid devices. And Yet, people are acting like Verizon's introduction to the iPhone is like the soon to be second coming of Jesus! I truly believe that the power of demand and its flexibilities made this Apple Inc. product more profitable.
The law of supply is most important because it influences surpluses and shortages which in turn cause prices to drop and rise, changing the demand in the process.
The law of demand is way more important than supply because if there wasn't a demand for a product there wouldn't even be a need. For supply in the first place. Supply adjusts to demand, if there's a demand then there is a need for supply.
i believe the law of demand is more powerful then the law of supply because of their were no demand for supplies then the company would not not know how much to supply. The law of demand is way more subject to change then supply because the market is very competitive and consumers can change their mind about a certain product instantaneously.
I think that the law of demand is more important. Suppliers have to cater to what the people want. Suppliers have some control over prices and quantity supplied but they do not have control over what is supplied.
I think the law of supply is more powerful than demand because supply determines if we have a surplus or shortage. But the laws are also powerful together because they work together. If there is a shortage it is because demand was higher than what was supplied, but if there was a surplus then suppliers must find out what went wrong causing the demand to be lower than what was supplied. Without suppliers though, there would be no reason for consumers, so supply is much more important than demand.
I believe the law of demand is greater. This is because without any demand for a good or service there in no need to supply them. I no one wants the good, than no one will supply it.
The law of demand is more powerful than the law of supply. Supply should go according to what the demand for the good or service is. Great amounts of supply for a good or service will go to waste if no one is demanding it, because no one would consume it. In this economy everyone is looking for the cheapest price, which goes along with what the law of demand states.
I believe that the law of demand is more powerful than the law of supply simply because although supply is almost always a fixed number, the law of demand states how much is demanded from that supply. So if the law of demand doesn't match up with the law of supply i believe that the law of demand will trump it everytime
Both laws are essential to the whole productions process. If I had to pick the most powerful one, I would have to go with the Law of Demand. Basically, suppliers need to create a product or service that is demanded. Even if the firm creates an innovating product, if no one has the incentive to go out and buy it, it won’t matter how good the product is. Ultimately, the firm’s goal is to create such a prestige that no matter what they put out in the market, even if it is not the best product out there, the demand will be out there based on the firm’s loyal customers. Essentially, the logo that the product carries dictates much of the demand for it. A great example is the company Apple. Most of the products they launch are great hits, mostly because the development of these products includes the detailed analysis of what the customers would really want. They have such a power over their market that even if the product is not something that the customers demanded, Apple will create a demand for that product which is really hard for a company to do. But the again, to reach such a phase is hard and not all companies are able to achieve this. Therefore, the law of demand has a greater impact on the production process.
I believe that supply is more powerful. Without supply whatever demand exists is starved. If there isn't any of whatever good is demanded then the consumer suffers. It's cruel but if a supplier wants to really increase prices all they have to do is withhold goods. Demand will have to go up if none of a good exists. Demand can cripple supply and leave surplus, but supply can cut off demanders completely and use whatever demand for a good that exists to make the demander do what the supplier wants. That's why I believe supply is more powerful, they have the most leverage. -Nick Tellier
I believe both are important but more so demand than supply, because everyday people are coming up with new inventions and improvements. What they make are supplies so if there is demand for that invention or improvement than can sell, and the world evolves around buying and selling. If demand was not there for products then we wouldn't be culture of technology because no one made that iphone or android because no one demanded better.
I believe that the law of demand is more then the law of supply because its number are set, the law of demand states how much is demanded from that supply. So if the law of demand doesn't match up with the law of supply i believe that the law of supply would always be irrelevant.
I believe the law of supply is more powerful because the supply of a certain product can always change instantaneous due to outside influences which would have a larger affect on the economy itself and aslo demand for complimentary goods. A good example would be the oil crisis where the supply for oil decreased so people could only get gas on certain days in return people stopped buying cars as often.
I think the Law of Demand is more important in our society, because if there was no demand for goods, we would not need to supply them. Our society has a high demand for many goods and services, and if the supply does not meet it, problems arise. The inverse relationship between price and quantity demanded is very reflective of our culture because we all love to consume, but more so when the price of a good is low or lowered; we all want goods at the cheapest price we can get.
I feel that supply is more powerful. In relation to profit, if there is no supply there is no money to be made. Also supply must always be kept at certain levels to ensure sales and income.
I feel that the Law of Demand is more powerful because without demand there would be no supply. Demand determines our economic system, our pricing system, everything and without it our economy couldn't thrive because our supply could be to great or to low causing total failure.
I believe that the law of demand is more powerful because without consumers there is no need for supplies. One must follow one to get to two, in order to proceed to the next step.
I think that the Law of Demand is more powerful because if nothing was needed in this world, then there would be no reason to supply it. If there were things stacked on the shelf and no one was buying it, companies would lose a large chunk of money because of the cost to produce it.
i believe that the law of supply is more powerful because it always shows an upward slope, thus giving it a higher rate of revenue. Because once there are higher prices, then the more supply will be wanted. Giving it more power than demand.
Economics is looking at the entailments of unlimited wants and limited supplies. Given this I would say that the law of supply is the relevant one since it is the one with a limited quantity. However there is one subtlety when looking at these laws in the model discussed in class. The law of supply looks at what producers are able to and willing to produce and the law of demand looks and what consumers are willing and able to consume at a given price. So in the case of the model I will say that the two laws are equivalent.
I believe the law of demand is more powerful because suppliers wouldnt know how much to supply if they didnt know what the demand was. Companies would either supply to much and waste money or too little and lose money either way its a lose-lose situation. --oakford gross
I think that the LOD is more powerful than the LOS. Without any demand there would be no supply. Supply is predicated on consumers demanding products and with demand you get the price of a product because thats what consumers are willing to pay.
Supply. A capitalist economy is based on what we are given to consume. I've seen people buy rock pets because they are given to us to buy. For the most part you can only want what you are given.
In my opinion, the more powerful law is the Law of Demand. Without the demand of the customers there would be no need for a supply. I think this is why companies tend to put so much stress on customer satisfaction. In fact, if put on a graph, I feel that supply would be dependent upon demand.
ReplyDeleteI feel that the Law of Demand is more powerful. If we dont have demand then we would have an excess of supply and loss in profit. Companies would be spending more than gaining. Its about what the customers want not what we already have to provide for them.
ReplyDeleteI feel that the Law of demand over powers the law of supply. Without demand there would be no supply and goods and services could go to waste. If companies were supplying more than what was being demanded they would loose money. So to maintain a high demand and supply companies and businesses need guarentee complete customer satisfaction
ReplyDeleteI think supply is the more powerful because based on demand, supply has to keep up. Supply has production involved with it which is more powerful than just demanding something. I take it like this supply is physical and demand is literal. Depending on price and quantity the supply graph is positive.
ReplyDeleteI think the Law of supply is the most powerful one because without supply, there will not be firms or small businises for the community. Also factories for workers to work, but is up to the people to decide what to produce and be inform wants behind the products that are produced in these firms it makes the economy much stronger and increase our per capita basically our economy will grow much faster.
ReplyDeleteI believe that the Law of Demand is more powerful because its being demanded by us, and we might need it for survival purposes and supply is just there as a plus in life, not really a life and death situation.
ReplyDeleteI personally believe that the law of demand is more powerful. I think it is best if you have consumers who are demanding a certain product so that way you know how much to supply. If you produced tons of supplies without the demand, then you would have a bunch if products that no one wants, which is a waste of time and money.
ReplyDeleteI believe that the Law of Demand is way more powerful than supply. Without demand there would never be a supply.Demand determines which way the supply will go. Without demand our we would never know how much to produce.
ReplyDelete-Cynthia Inchaurregui
I think the Law of Demand is way more powerful. You can be supplied with thousands and millions of a product but if no one is demanding it, it all doesn't matter how much supply you have. People wanting or having a demand for something is first and more important. Then if you can supply them with it is second.
ReplyDeletePersonally I think that the Law of Demand is more important than the Law of Supply. The Law of Demand is more powerful because you have no reason for a supply unless there is a demand.Demand spurrs production which results in a supply of products but the presence of a supply will not spur demand.
ReplyDeleteDayna Wheatley
It depends and I am getting a feeling that all of your questions will have an answer that will "depend" upon many factors. Today we talked about price floors and ceilings and the effects that has on the demand curve. Supply relies on demand just like demand relies on supply. If demand is high, that will cause supply to increase along with the prices and quantity sold. Likewise, an increase in supply will cause will affect the quantity demanded by lowering price and increasing quantity.
ReplyDeleteHands down Demand. Demand is what makes the world go round. Demand dictates what will be supplied, in nearly every instance. Logically without demand there would be no real need for supply. Supply can create new demands, but if the new supply simply fails then it was a waste of resources. I feel, in an effort to keep waste down, demand must take the lead. Raymond Beasley
ReplyDeleteI feel that each is as vital as the other because both are required to make the cycle go round. The law of demand makes way for the shifts in the law of supply. The law of supply yields the shifts in demand.
ReplyDelete-Susan Lo
Although I believe that both are essential to each other and economics, I would have to say that demand is more powerful. In order to need a supply, there must be a demand for something. Companies can create more of a supply of a good but they cannot create more of a demand, all they can do is try to influence people to consume.
ReplyDeleteI believe if it were to come down to choosing one, i would say the law of demand is more powerful than law of suppy. We, as individuals are the consumers and without consumers there wouldn't be producers. Producers base their products or items base on our needs and wants. So without the demand there wouldn't be a point for a producer to sell an item knowing that we might not buy it. For example, lets say a producer decides to sell calculators. They will be at a high risk because they don't know exactly how many will be sold or if they will even be needed by the consumers. This is why i feel that the law of demand tends to balance the supplies out because you will only supply as much as the consumer wants and needs.
ReplyDeleteAngelica EScolero
I think the Law of Demand is more powerful. If companies had a surplus of supply they would be losing money, so demand is essential. Depending on consumers wants the supply can be figured. There is no reason for supply if there is no demand.
ReplyDeleteWell my comment got destroyed. Well since it did, I will sum it up with this. Supply will always out way only for the simple fact without supply there can be no demand. There's always demand even with no supply of anything...
ReplyDeleteIsmael Navarro
Personally, I feel that demand is much more influential. Without demand supply means nothing. Also, demand is the basis for how much supply is needed, if there were no demand, the supply would be useless.
ReplyDeleteThe Law of Demand is more powerful, because consumers wants and needs drive the market to supply certain items.
ReplyDeleteI feel that the law of Demand is more inportant because if there wasn't a Demand for an item there would be no reason to make more of it (supply).
ReplyDeleteI think both demand and supply are both important due to the fact that supply is dependent on demand and vice versa. To have a demand you must have supplies and item to make the demand exist for example let say we didn't have the touch screen technology if we didn't have the supplies then there wouldn't be a demand for new touch screen technology, but if there was the demand for new technology then someone would make the supply needed for touch screen technology to come about.
ReplyDeleteI believe that the law of demand is more powerful because without a demand for a product we wouldnt know how much of it to supply. The law of supply can't be more powerful because we would always be either at a price ceiling or a price floor without knowing the demand.
ReplyDeleteIn my opinion the Supply law is slightly more important than the demand law in an orderly persepective. Because, in order to have demand one must supply it, example back then people didn't have cell phones but since they (companies) produced them we got accostumed to them and now we demand them. But, if in the first place cell phones weren't supplied then we wouldn't of had demanded them so o badly like we do.
ReplyDeleteI believe the law of demand is more powerful because without demand, supply becomes unimportant. In a way, consumers control what needs to be produced by buying certain goods or services, and the producers react by providing those goods or services.
ReplyDeleteGreg: you are learning the ways of the Economist! "It depends" is always a pragmatic way to answer an economic question! Although, I promise--there will be questions with certain answers in the future.
ReplyDeletei think they are both important because they affect each other is demand goes up then theres gotta be more supply if demand goes down less supply but if had to pick one i think demand is more important because it changes the other variable. if there is more supply that doesnt necessarily mean there is more demand for it because there could be low supply with large demand but that would be a shortage and lage supply but no demand that would make a surplus
ReplyDeletei believe the law of demand should be overpowering because it has a direct focus on what we want and need. why would we want to overstock stuff we dont even want or buy instead companies should concentrate on making what the consumer wants. this will also help prevent companies from losing money from overstocking unwanted products.
ReplyDeleteI believe that the law of demand is more important than the law of supply because the law of demand always influences to the law of supply. We cannot ignore the power of supply, but the influence of many consumers is tremendous to social economy with goods and services. Even though companies supply many kinds of products, diverse economic activities cannot be made if there are a few consumers who could not be satisfied with the quantity of supply. Also, the influence of demand is quite powerful because the world demand can make more trades. These are the reasons why I think the law of demand is more important than the law of supply.
ReplyDeleteSang-Ah Kim
Demand is obviously more powerful. The definition of demand is to request urgently and forcefully. demand is for the people and the people are powerful. Supply would not exist if it were not for the demand by the people. Supply is highly influenced by the demand for the product that needs supplying.
ReplyDelete-Daniel Cruz 9:20 to 10:30
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ReplyDeleteI think demand is a more powerful force. If supply did not exist, the world would still demand goods in order to survive. However, if demand did not exist, there would be no reason for supply at all.
ReplyDeleteKatherine Hedd
I believe that supply is more important then demand. The reason for this belief is because you wouldn't have to rely on other places for the demand. a perfect example would be our present time in America. we have become a demand country sure we get what we wont but if you have the supply i believe that you truly are the more powerful and control what you have and what you can give.
ReplyDeleteRichard Castrejon
I think the law of supply is more important than the law of demand with concept. Let me take luxury bag example. I think just few percent of people in their own country lead their countries economy. Luxury bag is usually for wealthy women. This is because they can boast their success with that. However, if the bag is cheap, they cannot satisfy because they cannot boast their success. The more expensive, the more people want to get those. One percent people movement can have effect on their country economically.
ReplyDeleteSora Ko
Both are important. According to Economics terms, supply of the good/service must be present for "demand" to have taken place. Without demand the supply will of a good/service will go to waste and the business will go under.
ReplyDeletei think law of demand is more important than supply. Most normal people demand of good. I think that is starting of economy. Also we know that consumers have big roles in economics. If the price increases, consumers less buy goods. Supplier react to consumer's act. Demand can change supply, so i think demand is important
ReplyDeletei think the law of supply is more powerful because people need to keep up with the supply of the product in order to meet the demand. Things will always be demanded but the way it is obtained is more challenging and more important. People can demand all they want but if there is no supply then what are they going to do.
ReplyDeleteI think both supply and demand are just as important as each other because it depends on what kind of product we're talking about. If there is a demand for something then it would be supplied, so demand is important. If something is in high demand and there is not enough supplied, then supply is important. They both rely on each other equally.
ReplyDeleteI think that the law of supply and demand are equally important because of the fact that they go hand in hand. One does not want supply to be low if they have a high demand and yet one also does not want there to be too much supply for the low demand. Yet if there was one that could be more important I think that the law of demand is more helpful because it helps explain shortages as well as to explain what the people want
ReplyDeleteBreanna Montoya
Demand.Without demand why supply?
ReplyDeleteViannee Luna
In my opinion, the Demand Law will be more important than supply. There is because the market exist so those company and factory can sold their product and service. The market would be the demand, because only when people need something there can made market exist. Therefor, since the demand is the cause of supply. The law of Demand will be more important than supply.
ReplyDeleteI think that demand is more powerful than supply. Without a high demand for something, the supply wouldn't be there. For example, since there was a high demand for the iPhone to be sold elsewhere other than AT&T, Apple has finally decided to sell with Verizon, and the supply for iPhones in Verizon is to increase while there is a high demand for them.
ReplyDeleteI think that they are both very powerful laws but I believe that demand is more powerful because although suply is important since it may inpire us to consume a certain product, it is up to the desire (demand) of the consumer to buy it.
ReplyDeleteI think that law of supply is more powerful than law of demand. There are lots of people in the world. Actually, the demands for goods are sufficient for companies which supply the goods even though the price is going up. Also, most major companies control market, they already have sufficient customers to buy their goods. I think that consumers cannot make the price of the goods. After companies make a price, we have no choice to change the price. We can choose buying the goods or not. But the price can be changed if the other companies make more same stuffs for more cheaper price. That is why I think that law of supply is more powerful.
ReplyDeleteMinju Kim
I believe the law of demand is more important than the law of supply. Producers may have large amounts of supply but if you dont have the demand for all this supply the producers loose out on money and have to account for storage space for this surplus of supplies or just simply throw it out or donate it.
ReplyDeleteAmanda Moy
I think that the law of demand is the most powerful because without it, firms wouldn't have a need to fulfill when creating goods. The law of Demand is also much more powerful because it controls the law of supply.
ReplyDeleteI think that Supply is the most important because with no supply of something you really wouldn't have a demand for it because people are not aware of it as much. After people become aware of the product I think the demand is more important.
ReplyDeleteThe best answere for this question would be that neither is more important than the other, that each law is better depending on what you are looking for. For instance, the law of supply would be better if you want to set things at high prices since prices and supplies corrolate directly while with higher demand the prices go down. However, if you are looking to get rid of all your stock of an item then you'd obviously want demand to be greater. Therefore, it is in my opinion that each law is just as useful and superior depending on the application of the law.
ReplyDelete-Joshua O'Handley
I don't think that one is more important than the other. Supply is necessary to drive the demand and demand is necessary to create the supply. I think what is most important is that an efficient balance be maintained between the two.
ReplyDeleteI believe that both are dependent for one another. On the other hand, I believe that Law of Supply is a bit more powerful because without supply there would be no demand for anything. These laws also set the price of the different products. This is also needed to maintain the equilibrium of the price and the quantity.
ReplyDeleteCID# 003140994
Saroeum, D
I think the Law of Supply is a more important than the Law of Demand. Supply is limited and the demand for certain goods can always be altered through incentives and marketing.
ReplyDeleteIn my opinion the Law of Demand is more important. This is because if there is no demand for an item then there will be no supply because there are no consumers. This would cause an excess in production and a loss of money for the producers if there is no demand for their product.
ReplyDeleteDemand and supply go hand in hand and they are equally as powerful. Without the demand of something there is no need to supply it because it would not be efficient. Without the supply of something there would be no demand for it.
ReplyDeleteI believe that the law of demand is more powerful because producers supply the demands of consumers. If consumers do not buy alot of a product there is not alot of demand for it. So the producers will not supply as much of it.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteI believe that the law of demand is more powerful then the law of supply because consumers demand for a product reflect on the amount that is going to be supplied. The price of a product changes as the demand and supply changes. So pretty much demand is the foundation of the producer's decisions. Demand helps decide the price and the amount supplied.
ReplyDeletepeople will always have needs and demands that go along with them, people will never stop needing things. therefore i believe that the law of supply is more important than the law of demand. without a supply of goods society will crumble
ReplyDeleteThis is quite difficult question. You cant have one without the other. Im sure there are a lot of people that would pay to use a time machine(demand) but we dont have one. then again it makes no sense to make something that wont sell. but IF i had to choose i would have to say demand because that is the idea that plants the seed of "how it can be done". Im sure someone had to agree there was a demand for something that was not created yet, kind of like the atomic bomb ...ok that wasnt a good example...
ReplyDeleteI think the law of demand and the law of supply both go hand in hand because the higher the demand, the higher the supply, and vice versa, the lower the demand, the lower the supply of items there will be.
ReplyDeleteThe Law of Demand is more vital than that of supply,not only does it determine the price for goods/services, it can also determine their stock life, market, and the likelihood of supplemental goods and compliment goods in the market. More importantly demand plays a big role in the decision to supply a product, since it is used to determine the amount of risk a producer is willing to take on to make a profit. Therefore, a producer may only take on the risk of gathering the funds, time, and input needed to produce a product if they know the demand will counter it, and produce higher benefits. Though consumer demand is often determined by price it can also set it. Consumers can choose to purchase a product with a high price if they have a greater need and desire that the price doesn’t pose as great of a stress for them. Such is the case in the appeal of luxury goods; people pay thousands for game tickets when they can watch it for free at home. The simple explanation is that the demand from consumers is so high, that they are willing and for the most part able to make the purchase, therefore enabling the need for such a market. Similarly, supply for mp3 players has always been relatively high, just about every type of entertainment company supplies them at reasonable prices, however, this has not stopped the millions of people who decide to purchase an IPod, that sells for a much higher price than that of the other mp3’s, all because demand for an IPod is so great consumers are willing to make the higher purchase. Thus enabling Apple the ability to sell it for a higher value (affecting pricing), which in return also determines how the demand for supplements of the good will be affected. Demand can ultimately trump anything.
ReplyDelete-Susan S
To me it seems like Demand is far more important than supply for many reasons. The first reason is that supply is entirely dependent on demand. There is no point to having a supply if there is not demand for that item. That being said, if you have a high demand and not enough supply you don't completely lose, because that will boost the price of items. The other reason is that demand comes directly from the consumer, and the consumer is what business is based around. Focusing on demand makes it easier to get in touch with the consumer.
ReplyDelete-Jimmy Walker
these 2 concepts are very essential. in fact they are related, one has a main effects on the other. but i believe the law of supply is slightly more important. if we didn't have supply our demands will never be met. the demands are dependent on supply for some ways, for example if cars didn't exist, i won't be demanding cars. the human behavior is always demanding but what really matters is how to supply it.
ReplyDeleteI truly think that both laws are equally imporant. I don't think one law is more important than the other. The laws of demand and supply need each other equally. In order to have supply, there has to be some kind of demand for the product.If a company had supply and there was no demand for the product, that would be a waste; and if a company had a high demand for a product and couldn't supply it, that would also be a waste, seeing as the customers demanded it would have no way of obtaining it.
ReplyDelete-Cory Williams
I believe that the law of demand is more powerful than the law of supply, but not by much. The reason i say this is because the majority of the population are consumers and what they decide has a great impact, weather it is a good or bad thing. One influences the other and vice versa.
ReplyDelete-Eric Cisneros
I would say that Demand is more powerful. I only say this because our market today is very consumer driven. In other economies this could be argued, but in our country with numerous amounts of selection we always want want want. This drives our market and i think it effects the economy more.
ReplyDeleteI think that the law of demand is more powerful than the law of supply because without the decision of the consumer to buy the product the amount supplied is pretty much pointless. Consumer choices are what keep an economy moving, so regardless what the price or supply of a product is, without any demand there will be no economic progress.
ReplyDeleteCharlie Newton
I think that the law of demand is more powerful because without supply there is no demand for goods and services. There for i think that the law of demand is dependent on the law of supply. The law of supply is more powerful because if it did not exist, then it would not matter if people demanded a good or service or had the money to buy that good because there would be no supply for people to buy.
ReplyDeleteI would say that demand is more powerful that supply because if there is more demand for a certain product than the supply won't put into factor if the consumer will not want to purchase the product. Therefore, there can be a lot of supplies of a product but if there is no demand then the supplier will not profit.
ReplyDeleteChoosing the importance between supply and demand is like choosing the importance between gas or wings of an airplane. However, in my novice economic mind, I believe that demand is more important. I say demand because I believe this is what has the most “exceptions" and areas of flexibility where businesses can thrive compared to supply. For example, demand for a particular item at a higher than normal price can be raised through a solid advertising campaign and how a company represents a product's image. Take the iPhone for example; if you were to take away all its popularity and hype, I really believe it would then be a little sister compared to blackberry and droid devices. And Yet, people are acting like Verizon's introduction to the iPhone is like the soon to be second coming of Jesus! I truly believe that the power of demand and its flexibilities made this Apple Inc. product more profitable.
ReplyDeleteThe law of supply is most important because it influences surpluses and shortages which in turn cause prices to drop and rise, changing the demand in the process.
ReplyDeleteThe law of demand is way more important than supply because if there wasn't a demand for a product there wouldn't even be a need. For supply in the first place. Supply adjusts to demand, if there's a demand then there is a need for supply.
ReplyDeleteNicholas flores
I think the law of demand is most important. Without the demand from consumers, there will be no need for supply and nobody will make money.
ReplyDeletei believe the law of demand is more powerful then the law of supply because of their were no demand for supplies then the company would not not know how much to supply. The law of demand is way more subject to change then supply because the market is very competitive and consumers can change their mind about a certain product instantaneously.
ReplyDeleteI think that the law of demand is more important. Suppliers have to cater to what the people want. Suppliers have some control over prices and quantity supplied but they do not have control over what is supplied.
ReplyDeleteI think the law of supply is more powerful than demand because supply determines if we have a surplus or shortage. But the laws are also powerful together because they work together. If there is a shortage it is because demand was higher than what was supplied, but if there was a surplus then suppliers must find out what went wrong causing the demand to be lower than what was supplied. Without suppliers though, there would be no reason for consumers, so supply is much more important than demand.
ReplyDeleteBrittany McSwain
I believe the law of demand is greater. This is because without any demand for a good or service there in no need to supply them. I no one wants the good, than no one will supply it.
ReplyDeleteKyle Brown
The law of demand is more powerful than the law of supply. Supply should go according to what the demand for the good or service is. Great amounts of supply for a good or service will go to waste if no one is demanding it, because no one would consume it. In this economy everyone is looking for the cheapest price, which goes along with what the law of demand states.
ReplyDelete-Giselle Rodriguez
I believe that the law of demand is more powerful than the law of supply simply because although supply is almost always a fixed number, the law of demand states how much is demanded from that supply. So if the law of demand doesn't match up with the law of supply i believe that the law of demand will trump it everytime
ReplyDeleteBoth laws are essential to the whole productions process. If I had to pick the most powerful one, I would have to go with the Law of Demand. Basically, suppliers need to create a product or service that is demanded. Even if the firm creates an innovating product, if no one has the incentive to go out and buy it, it won’t matter how good the product is. Ultimately, the firm’s goal is to create such a prestige that no matter what they put out in the market, even if it is not the best product out there, the demand will be out there based on the firm’s loyal customers. Essentially, the logo that the product carries dictates much of the demand for it. A great example is the company Apple. Most of the products they launch are great hits, mostly because the development of these products includes the detailed analysis of what the customers would really want. They have such a power over their market that even if the product is not something that the customers demanded, Apple will create a demand for that product which is really hard for a company to do. But the again, to reach such a phase is hard and not all companies are able to achieve this. Therefore, the law of demand has a greater impact on the production process.
ReplyDeleteI believe that supply is more powerful. Without supply whatever demand exists is starved. If there isn't any of whatever good is demanded then the consumer suffers. It's cruel but if a supplier wants to really increase prices all they have to do is withhold goods. Demand will have to go up if none of a good exists. Demand can cripple supply and leave surplus, but supply can cut off demanders completely and use whatever demand for a good that exists to make the demander do what the supplier wants. That's why I believe supply is more powerful, they have the most leverage.
ReplyDelete-Nick Tellier
I believe both are important but more so demand than supply, because everyday people are coming up with new inventions and improvements. What they make are supplies so if there is demand for that invention or improvement than can sell, and the world evolves around buying and selling. If demand was not there for products then we wouldn't be culture of technology because no one made that iphone or android because no one demanded better.
ReplyDeleteI believe that the law of demand is more then the law of supply because its number are set, the law of demand states how much is demanded from that supply. So if the law of demand doesn't match up with the law of supply i believe that the law of supply would always be irrelevant.
ReplyDeleteGeoffG--like your analogy; although, I'd choose wings on an airplane anyday! You can always glide for a while if you run out of gas...
ReplyDeleteI believe the law of supply is more powerful because the supply of a certain product can always change instantaneous due to outside influences which would have a larger affect on the economy itself and aslo demand for complimentary goods. A good example would be the oil crisis where the supply for oil decreased so people could only get gas on certain days in return people stopped buying cars as often.
ReplyDelete- Chaun Calvin
I think the Law of Demand is more important in our society, because if there was no demand for goods, we would not need to supply them. Our society has a high demand for many goods and services, and if the supply does not meet it, problems arise. The inverse relationship between price and quantity demanded is very reflective of our culture because we all love to consume, but more so when the price of a good is low or lowered; we all want goods at the cheapest price we can get.
ReplyDeleteI feel that supply is more powerful. In relation to profit, if there is no supply there is no money to be made. Also supply must always be kept at certain levels to ensure sales and income.
ReplyDeleteI feel that the Law of Demand is more powerful because without demand there would be no supply. Demand determines our economic system, our pricing system, everything and without it our economy couldn't thrive because our supply could be to great or to low causing total failure.
ReplyDeleteI believe that the law of demand is more powerful because without consumers there is no need for supplies. One must follow one to get to two, in order to proceed to the next step.
ReplyDeleteI think that the Law of Demand is more powerful because if nothing was needed in this world, then there would be no reason to supply it. If there were things stacked on the shelf and no one was buying it, companies would lose a large chunk of money because of the cost to produce it.
ReplyDeletei believe that the law of supply is more powerful because it always shows an upward slope, thus giving it a higher rate of revenue. Because once there are higher prices, then the more supply will be wanted. Giving it more power than demand.
ReplyDeleteEconomics is looking at the entailments of unlimited wants and limited supplies. Given this I would say that the law of supply is the relevant one since it is the one with a limited quantity. However there is one subtlety when looking at these laws in the model discussed in class. The law of supply looks at what producers are able to and willing to produce and the law of demand looks and what consumers are willing and able to consume at a given price. So in the case of the model I will say that the two laws are equivalent.
ReplyDeleteI believe the law of demand is more powerful because suppliers wouldnt know how much to supply if they didnt know what the demand was. Companies would either supply to much and waste money or too little and lose money either way its a lose-lose situation. --oakford gross
ReplyDeleteI think that the LOD is more powerful than the LOS. Without any demand there would be no supply. Supply is predicated on consumers demanding products and with demand you get the price of a product because thats what consumers are willing to pay.
ReplyDeleteSupply. A capitalist economy is based on what we are given to consume. I've seen people buy rock pets because they are given to us to buy. For the most part you can only want what you are given.
ReplyDelete