HOW TO FIX THE PRICE FOR YOUR PRODUCT OR SERVICE?

Say, a lady by name Mary makes 'home made chocolates' in a hill station called Ooty. She wanted to fix the price. So she begun to experiment. At the most, she can make 10 kg of chocolates per day. First, she put the price at 1000 rupees per kg. No takers. It proved costly for both locals and tourist. She changed the price to 750/ kg. Some 3 or 4 kg sold daily. Then she drastically reduced the price to 250/kg. (even though she incurred loss). The chocolates sold like hot cakes. There was a demand for more than 15 kg a day. She was not able to cope up with the demand. Next, she priced the chocolates at 600 per kg. That included some decent profit. Now, around 10 kg sold everyday. She was happy 'for ever'!.
"A thing is perfectly priced when supply equals demand".

Supply-demand principle is one of the key stones of economics.
In matrimonial market, in education, in employment market, in share and Bullion market; everywhere supply-demand principle appears.

KEY POINTS:
The law of demand says that at higher prices, buyer will demand less of an economic good.
The law of supply says that at higher prices, sellers will supply more of an economic good.
These two laws interact to determine the actual market prices and volume of goods that are traded on a market.
In a nutshell; supply and demand pull against each other until the market finds an equilibrium prices. That is why, gold prices rises during wedding season and falls in the lean season.

Apple's black laptop:
Apple usually makes white laptops. At one time, it made black laptops (except colour nothing is special) and priced it at an extra 200 dollars. It sold well, even though it was expensive. There was "demand " for it. Why? Some wanted to distinguish themselves from their run-of-the -mill white laptop neighbors.
Does human values, affection, honesty in short "supply"? Please "demand" them more.
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LISSAJOUS FIGURES

Definition: "When a particle is subjected to two sine wave motion or two oscillatory motion at right angles, the particle describes lissajous figures". We know sine wave motion and circular motion is basically same. Hence we draw two circles A and B perpendicular to each other. The circle B rotates twice faster than circle A. That is, frequency of circle B is two times than that of A. A particle at the intersection of two circles is subjected to two sine wave motion A and B at 90 degree simultaneously. The particle will describe figures depending on the frequency and phase of A and B . In our case, the ratio of frequency is 1:2 and the two waves are in phase. To draw lissajous figures : A moving point in both the circles are chosen. Here we should remember; during the time taken by the circle A to complete one rotation, circle B completes two. Hence the points are marked on the circles according to their speed. Then straight lines

THE PARABOLA

A jet of water shooting from a hose pipe will follow a parabolic path. What is the so special about parabola. Y= x^2 Draw a graph for the above equation. It will result in a parabola. This parabola is also called unit parabola. Any equation involving square will yield a parabola. Example: Y = 2x^2 +3x+3 (also called quadratic equation) X= 2 and -2, both satisfies the equation 4 = X^2. Parabolic equations always have two solutions. Any motion taking place freely under gravity follows parabolic path. Examples: An object dropped from a moving train, A bomb dropped from flying plane, A ball kicked upwards. If a beam of light rays fall on the parabolic shaped mirror, they will be reflected and brought to focus on a point. This fact is made use of in Dish Antenna, Telescope mirrors, etc. Inverted parabola shape is used in the construction of buildings and bridges. Because the shape is able to bear more weight. A plane

CASINO'S GAME

Let us find out how the casino survives with mathematics. Say, your friend invite you for a game of dice. You must bet (wager) 2 dollars. If you roll 'six' you will get back 8 dollars. The game will go on for 30 rounds. All sounds good. The probability of rolling 'six' is 1/6. Since the game will be played for 30 times, the 'expected win' is 30*1/6 = 5. That is, you are expected to win 5 rounds out of 30. Hence your gain will be 5 * 8 =40 dollars. ok. This also implies that you will loose 25 rounds. Hence your loss will be 25*2 =50 dollars. Your net gain will be gain-less = 40-50 = -10 dollars. For 30 rounds, the loss is -10 dollars, Hence, for one round =-10/30 = -1/3 dollars. There will be a loss of -1/3 or 0.33 dollars per round. It is not a fair game. Let us make a simple formula to calculate 'Pay out per round\. The probability for a win = p The pay-out in case of win = V No. of rounds = n The expect

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