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Supply And Demand

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by

Demi Lalonde

on 13 April 2010

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Transcript of Supply And Demand

dfjdjkafhdsfadsf dafdsf /dEJelkdslkjfsdalkjdskljfdsalkjfdsa Supply and Demand By: Demi Lalonde SUPPLY. Represents the amount of some good that producers are willing and able to sell at various prices. DEMAND. Represents the amount of some good that buyers are willing and able to purchase at various prices. Professional Athletes Are they getting overpaid? In the past two centuries, the idea of sport and athleticism has grown. Not only do people spend a lot of there time enjoying sports, there is an extremely large amount of money that is made in the business. Examples: Alex Rodriguez, a New York Yankees baseball player is the highest paid athlete alive. Just last year, he was paid 27.5 million. Alexander Ovechkin of the Washington Capitals NHL team, just last year, made 9.5 million. Shaquille O'Neal of the Los Angelos Lakers, made just over 17 million last year. The reason athletes get paid so much is because the supply of professional athletes, and good ones I might add is very low. If the supply is low, the demand will of course be high. Nobody wants athletes that aren't good at what they do. They want nothing but the best. And if the demand is high, there will be a high price as well because everyone wants this one player. Take Alex Ovechkin for example, everyone will be paying him large amounts of money because whoever pays him the most, is the one that he will play for.
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