When everything else is equal and you're only changing price, you're not changing demand.

Or another way to think of it is, is this entire demand curve.

You see this rising force in sort of total transparency and openness that companies are starting to adopt, all because the consumer is demanding it.

Think twice before you have that bottle of wine.

We see that play itself out with empathy and respect.

We've mentioned the health, but it needs consumers to buy into it.

And increasingly, everything that people buy, every consumer product, in one way or another, can be personalized.

The consumer society is what you need for the Industrial Revolution to have a point.

And then the last one we'll talk about

(Laughter)

It's the same in marketing.

This curve would shift or the entries in this table would shift.

People will borrow money not to just, like, not to just sit, but stuff it into their, into their mattresses, they'll borrow that money to go invest it in some way, to spend it.

But then you lose control of it.

And I think more and more people are also asking

If we really want to see the kind of wide consumer behavior change that we're all talking about as environmentalists and food people, maybe we just need to ditch the term consumer and get behind the people who are doing stuff.

Now you can see some of the reasons why I'm optimistic.

And this is one of those conventions of economics that I am not a fan of, because people often talk about changing the price and how the quantity demanded changes from that.

The consumer price index has been fluctuating wildly.

Now let's think about how the demand for each of these goods might change depending on changes in income.

The price varies with demand.

In future videos we'll talk about how the entire relationship, how demand changes based on different factors.

(Laughter)

What is the objective?

The third of the four laws of post crisis consumerism is about durable living.

If we started today, 10 years from now, at the end of this window of opportunity, those fuel efficient cars will reduce our fossil fuel needs by four percent.

Hi.

If demand were to change, we would actually have a different curve.

And the one that people report whenever they say the CPl went up 2 , they are actually referring to the CPl U.

Many consumers rose up against the consumption tax.

Matching the reliability, base load is actually irrelevant.

The current imbalance between supply and demand is considered to reflect structural changes on the demand side, rather than being a cyclical phenomenon.

So we're going to focus on the income factor the income effect, for this video and see how these 2 products might change.

Although they should be close to each other if they really are indices for measuring the general level of prices.

These ecosystems are really important to the Montana brewers and their customers.

So whenever you have a discussion on the things that may or may not drive inflation it's important to weight them by these weightings that the CPI gives them to actually figure out what the actual impact on how we measure inflation really will be.

Marketing reduces things. Marketing simplifies.

The same thing applies to the costs for infrastructure.

If we talk about an actual quantity, we should say the quantity demanded.

If we lower the price of a product, that will raise the quantity demanded of that product.

And so, for any given price point, the demand would increase.

Now let's talk about another one of those factors that we've been holding constant.

So they're gonna hike the prices up anyway.

Technology can channel energy into work, but it can't replace it.

The really tiny hamburger, the really big vegetables.