I have always some-what understood demand, but I never fully grasped it. I always thought about elastic demand, when prices go down, the number of buyers goes up. and so does the revenue. but I didn't even know that inelastic demand existed. nor was the true meaning of (christmas) a socialistic economy was. I thought that a communistic economy was socialistic, but now I am more educated about the subject.
Also, as a Marketing major in college, I have found this class very useful and very on subject with my learning objectives. In fact, I would like to personaly thank Mr Macmanamon (Mega-Me) for making Economics class one of my favorite classes.
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