#with most items on this list they're an occasional or even once daily treat but soda.... nightmare drink culturally

[monday3econlive]

The Unruly Blueberries and the Rebel in My Wallet

(Law of Demand)

Shangdong Yang

48958708

Monday 15:00-15:50

A crisp sunlight streamed through the expansive windows of Whole Foods on last Saturday, where is the favorite place to buy grocery with my housemate, casting a golden glow upon the pristine aisles. My culinary aspirations led me to the vibrant display of fresh blueberries – a rainbow of reds, blues, and purples enticing me like a siren's call. However, as my gaze met the price tag, the Law of Demand leaped off the grocery store shelves, manifesting as a tangible force influencing my purchasing decision — The quantity demand of the item varies inversely with its price. Although this principle is one of the most basic and easy one in economics, it is also the most common concept in our daily life, surrounding us everywhere.

Meandering through the attractive aisles, I couldn't help but pause at the extravagant berry display, where plump strawberries and succulent blueberries beckoned with promises of gastronomic delight. A fellow shopper, seemingly caught in the same economic tango, remarked, "Whole Foods really knows how to price these berries like they're rare gems, huh?" We shared a knowing chuckle, the Law of Demand weaving its invisible threads around me.

There they were, plump and inviting, but at $7.99 per box, the blueberries suddenly transformed from a delectable delight to a luxury reserved for special occasions. However, I remembered clearly that the same box of blueberries at the same Whole Foods was sold at $6.99. The Law of Demand, a mischievous puppet master, whispered in my ear, "As the price of the blueberries goes up, the quantity demanded of it will go down, isn't it? ”

In this bustling setting, my internal dialogue became an unintentional monologue. "Well, well, Law of Demand, playing hard to get on my grocery list, are we?" I mused aloud. My wallet, a stoic revolutionary, raised its metaphorical picket sign, resisting the temptation to splurge on a seemingly extravagant indulgence.

A fellow shopper, overhearing my mutterings, joined in with a nod of agreement, "It's like Whole Foods is staging an economic drama every time we shop here." We exchanged a smile, realizing that the Law of Demand, though invisible, was very much a “co-shopper”, influencing the choices I made.

As I begrudgingly passed by the extravagant berry display, opting for a more wallet-friendly alternative — blackberries, only $3.99 per box, the economic lesson unfolded before me. The Law of Demand wasn't just a concept confined to textbooks, instead, it was a living, breathing force guiding my choices in the Whole Foods.

The blueberries that were once poised to grace my breakfast table along with my oatmeal porridge were relegated to the realm of the occasional treat. As the law of demand continued to exert its influence in the almost all the corners of my life, this seemingly simple decision reflected the intricate dance of economic forces. The rebellion of my wallet against the tyranny of expensive blueberries became a vivid illustration of how economic principles like the law of demand infiltrate the everyday conversations and decisions we make. At Whole Foods, a mundane grocery run became a living lecture of the real-world economics.

In my own story, since the price of a box of blueberries at Whole Foods excessed my expectation to pay since it was a dollar cheaper before (which was 7.24 CNY after regarding in Chinese currency, made my wallet bleeding), which made me less willing to buy it. And I believed that the higher price of the blueberries, even it was only a dollar of change, could also cause the same idea as mine to the other customers, which made the quantity demand of the box of blueberries at Whole Foods decreased. Therefore, as the Law of Demand, the demand curve of the blueberries would shift to the left as well, causing the lower quantity demand of the blueberries.