Economics Supply And Demand

Economics, supply and
demand
In the article we find that teenagers have the oppertunity to be demanding about their
salary in the baby sitting field, because the amount of babysitters today are scarce. The
babysitting population, teenagers, find themselves busy with school, part time jobs, and
extracirricular activity. Teenagers with drivers licenses are even more scarce than those
with out, all in all, It’s hard to find a babysitter. Times have changed, just twenty years
ago there were 33 million children who needed to be watched, and 39 million
babysitters(age 10 – 19), recent polls suggest that children that need to be watched raised
18 percent to 39 million while baby sitters dropped 5 percent to 37 million. The rise in
children coupled with American families spending more time out then years ago, has
allowed the babysitters to set their price with out haggeling. Baby sitters are making well
over the federal minimum wage of $5.15 an hour because they are in demand, and scarce;
the babysitters who train in CPR, serve dinner, and drive are the hardest to come by and
can demand the highest wages.

In this article we see many examples of supply and damand and the powers of
supply and demand. Babysitters are in demand, there is an increase in the amount of
children who need to be watched yet there are relativly few who choose to babysit from
the allready decreased amount of the babysitter work force. This gives the babysitter the
advantage of a noncompetitive work force, allowing the baby sitter to set the price with
out bargaining. If we were to compare two different production possibility frontiers, we
would see a left shift of the curve while demand for baby sitters rises, from 1980 to 1996.
In economics we concider this an inflation, the amount of