econ 2

econ 2
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  • Kyle is all set to head out to hang out with friends. He asks his brother Nate to drive there, which he agrees to but he would need to pay $5 for gasoline. Kyles questions his brothers his brother's demand, which his brother proceeds to explain to him that gas is an inelastic product which means that the price doesn't fluctuate a lot meaning it being at a high price it os nessacity to buy. Kyle paying the $5 is to prop him for the future once he wons his own car and has to face inelastic products.
  • Kyle pays his brother the $5 for the ride and proceeds into the mall. He receives a text message from his friends to meet them at the Food court. As he makes his way towards the food court he notices a bigger line up in front of Louis Vuitton than usual, while Gucci has less than normal. He thinks back to his third-period class where he talking about the controversy that made people change their preference about Gucci, ultimately leading those customers to go shop at LV a substitute supplier.
  • He finally meets up with his friends at the food court and they start eating before they decide to go shopping. One of Kyle's friends William shared to the group that in the next few days the government will be raising the minimum wage for all workers in Canada from $12 an hour to $15 an hour.
  • Kyle was very excited to hear this news, so excited he starts daydreaming of him swimming in money. His sudden happiness soon comes calms down as he hears Matt add in that increasing minimum wage will result in companies hiring fewer people but also there being a chance of them firing some of their workers to cut back on the ammount they spend paying their workers
  • Kyle and his friends finished eating so they finally decide to go shopping. Robin suggests that they go to Sephora as she would like to purchase some makeup products that are on sale for 50% off, so group agrees and they go forward to the store. They arrive and Robin purchases a makeup brush that was $12 but since it is 50% the brush costs $6.
  • They continue roaming the mall and they talk and have fun, Matt notices that Footlocker is have a special event where whoever a purchases the new Kyrie 4’s they will be entered in a competition to win tickets to watch  the Boston Celtics live, since Matt and kyle are very big basketball fans and look up to Kyrie hey both pitch in some to buy the shoes in hope of winning that prize, while coming to a conclusion to share the shoe equally.That was it for their fun trip to mall, they say their goodbyes and part ways.
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