I've learned a lot of things in this class about the world of economics, especially considering my economics I.Q. was pretty low. But the one thing that seems to stick out to me, regardless of any subject, is the very basics of a topic. I'm a pretty simple guy. And what stuck out to me the most in this class was one of our first assignments back in January on the 18th. We were talking about supply and demand. We even played a little game where half of the class were buyers and the other half were sellers. This is, essentially, the very basics of the economy. No matter how deep into the economic system you go, everything is based in the fact that the economy fluctuates based on supply and demand.
I'm not sure if there's really any immediate impact this assignment has had on me personally. I just find it interesting. Sellers can only sell as much as they are supplied and buyers will only buy as much as they demand. There are several factors to take into consideration when learning what increases or decreases either supply or demand. Some of those things include income, interests, resources, government intervention, and so on. But the reason why I picked this assignment above all of the others we did is because it is the most basic fundamental. And when all is said and done, the core of anything is really the most important part of anything. And it's from the base that you build upon and learn more and more about an entire topic. But it all sits on the base regardless. And in this case, the base for the economy is supply and demand.
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