And my argument there is that's normally the case.

Well, it has to do with Gresham's law of economics.

But there's a subtle, and it's almost a philosophical point, but it's an important one, to realize

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

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As we showed in the cupcakes economics video, when you have a lot of unused capacity, it's everyone's incentive to try to sell that extra unit and they all lower prices.

Let me write that in green.

Now, for those of you who may not be familiar,

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

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

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

Scenario E, I raise it to 10.

Even the new Jack 2 field in the gulf of Mexico would only supply a few months of domestic demand.

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And I made that distinction because I gave that example of the island, where you could have a very small money supply, for example, one seashell, but if the velocity is really high, the people are expressing that demand.

This is the total numbers of cupcakes all of the factories in the market can produce.

This column let me put my price.

And so if income goes up for this laptop, the demand will increase.

But gold was a stepping stone and it was necessary because in order to get this whole thing started and in order for people to really have trust in this currency, just the way people are trained to think, you had to originally sell them on gold, right?

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Here is the demand forecast for 1998.

Imported cars are in strong demand.

The supply demand balance is tight.

They decide to sell their house.

WRlTING Demand goes up.

There is more people that have money in their pockets.

These goods are in great demand.

So it's shifting demand to the right.

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