I need help with a question - Democratic Underground

ffm172

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Fri Mar-04-05 07:32 AM
Original message

I need help with a question

Give a real world example of a change in demand and explain how the change impacts the market price and available quantity

any ideas for an example?

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LiberalEsto

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Fri Mar-04-05 07:37 AM
Response to Original message

1. Remember Furby toys a few years ago?

They were such a hot item as a kids' Xmas gift that people were waiting in line at 5 a.m. for stores to open when they got a shipment. I bought a new one at a garage sale for $60 (I think the original price was about $20) and thought it was a bargain, since many people were re-selling them for $90 or more.

Fast forward. I see Furbys at garage sales all the time. Even at $1 a pop, nobody wants them because they are no longer the must-have kid toy of the moment.

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ffm172

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Fri Mar-04-05 07:40 AM
Response to Reply #1

2. thanks

that's an idea. I don't think anybody else thinks of that :)

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Rabrrrrrr

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Fri Mar-04-05 07:47 AM
Response to Reply #1

3. And the Beanie Baby toys, and way back - the Cabbage Patch Dolls

Remember parents physically fighting each other to get them for their kids for a present in celebration of the holiday of love and goodwill for all?

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ET Awful

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Fri Mar-04-05 07:48 AM
Response to Reply #3

4. You forgot Teddy Ruxpin! :) n/t

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ffm172

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Fri Mar-04-05 07:48 AM
Response to Reply #3

5. I don't think I am old enough

to remember the Cabbage Patch Dolls :)

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LiberalEsto

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Fri Mar-04-05 07:50 AM
Response to Reply #5

6. Thank your lucky stars

They were really ugly, but people fought over them in stores.

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ffm172

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Fri Mar-04-05 07:51 AM
Response to Reply #6

7. do you have a pic?

you make me curious

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Rabrrrrrr

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Fri Mar-04-05 07:56 AM
Response to Reply #7

8. Here ya go:

The "thing" was that they also came with adoption certificates. So, one was not "buying" them, one was "adopting" them. From the cabbage patch.

Here's all the info you need:

http://images.cabbagepatchkids.com

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ffm172

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Fri Mar-04-05 07:58 AM
Response to Reply #8

9. gosh are they ugly

Edited on Fri Mar-04-05 07:59 AM by ffm172

I think I go with the Furby toys :) (not that they are nicer looking)

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zbird

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Fri Mar-04-05 08:12 AM
Response to Original message

10. More recent example was the "Tickle Me Elmo" dolls.

Edited on Fri Mar-04-05 08:14 AM by zbird

Same crazy people waiting in line and fighting over the stupid things.

Here's a link about the economics you are talking about.

http://www.finpipe.com/elmo.htm

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Fri Apr 26th 2024, 07:17 AM
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