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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THE EARTH, A SUPER ORGANISM

JOIN MY COURSE: "Become a programmer in a day with python" A man called 'love lock' (what a name) proposed a theory called Gaia theory, named after Greek Goddess. It says, "Earth is a self-regulating organism like a human being. The organic life in it interacts with in-organic matter and maintains atmosphere, temperature and environment". Hence the earth is still suitable for the life to thrive. Imagine, in a particular place, there are lot of flowers. Some flowers are white and some are darkly coloured. We know, white reflects light and heat while dark absorbs the same. White flowers can thrive in hot climate. But dark flowers requires cold climate. The absorption and reflection balances and the environment reaches average, warm temperature at which both the flowers can co-exist. This is the essence of "Gaia" theory. On our earth, the oxygen constitute 20% of the atmosphere. The oxygen level is always mai

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

DISORDER IS THE "ORDER OF THE DAY"

Imagine a balloon full of air. The air molecules are moving randomly inside the balloon. Let us pierce the balloon with a pin. The air rushes out. Why should not the air molecules stay inside the balloon safely and ignore the little hole? That is not the way the world works. The molecules always "want to occupy as many states as possible". Hence the air goes out in the open to occupy more volume. The things always goes into disorder (entropy) and the disorder increases with time. The above statement is what we call "second law of thermodynamics". Consider a cup of coffee on the table. Suppose the heat from entire room flows to your cup of coffee, the coffee will boil and the rest of the room will freeze. Freezing means bringing things to order and arrangement. It violates the second law. Hence it will never happen. Hence heat must flow from high temperature to low temperature and not the other way. The air molecules in y

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