Prices depend on supply and demand.

Supply... so grape supply schedule which is really just a table showing the relationship between, all else equal, the price and the quantity supplied

Then auctions like eBay are another example of dynamic pricing.

And then you can imagine if the price goes down the quantity supplied goes down

I'll just say p for price if the price goes up then the supply and let me be careful the quantity supplied goes up

Software can do it faster.

Corn prices go higher because of a severe drought in this country, um, you know, where 41 of the country the world's supply of corn comes from.

Price

We don't know what we're talking about.

And how much of that coin you have to give for them to do it?

They want to encourage high volume purchases, and so they have stepped pricing that is oriented to create volume.

And so the first of these that I will focus on the first is the price of competing products.

This is the electrical supply for a hospital in rural Malawi.

For any given price, it's going to lower the quantity demanded.

Let's say a guy invents a better light bulb.

The price of admission.

Par value

Redemption

Present value

Present values

Future value

Dr. Price?

Wenneck, Price, Garner.

Let's think about ourselves as grape farmers and I'll make a little supply schedule right over here

I could actually price on specific customer segments or on features I know they need.

KIO data supply error.

Jolt, electrify!

How could you have prices that kind of move?

You would be correct that Company B was cheaper.

Alright?

That is Scenario E.

It turns out we made this pretty easy.

It's not about low cost.

Now let's think about what happens with the number of suppliers.

You could have things like supply shocks.

It has been made possible, by the way, for certain other different reasons.

And finally, American families also pay a price for oil.

If you ever think about it, pricing that you negotiate yeah, we kind of have this price on paper, but that's just the starting point of the conversation.

It's the best price that someone's willing to give you for something.

Our price is considerably higher than the current market price.

See...notice I get my axes confused

So what's eventually going to happen with the demand increases the price will go up in this market and when the supply increases in this market, the price will go down.

Scenarios... and let's put our price over here and this'll be in price lb the per pound price of grapes and this is the quantity produced over the time period and whenever we do any of these supply or demand schedules we're talking over a particular time period

And maybe my kids if they never got an education, they would have maybe added 10,000 of value per year to people and now they can add 20,000 of value.

And that caused housing prices to go up.