(no subject)
Law of demand & supply and the hungry ghost festival.
I am born a taoist. My mum once told me Buddhism is supposingly a more superior religion. But I don't know why she didnt convert to it. We are still burning papers every seventh month of the lunar calendar which I thought was weird.
The first chapter of every econs lesson is the law of demand and supply.
When we burn paper notes during hungry ghosts festival, the ghosts are supposed to recieve the money right? But there are so many taoist around the globe, so there would be a lot money burned by the people and received by the ghosts during the 7th month. Hence, the supply of money will increase and shift the supply curve to the right. As such, assuming demand of the money by the ghost remain constant, the price of money will fall. Hence, the actual currency of paper notes will fall during the 7th month. Below is the graphical illustration. Therefore, I conclude that the ghost won't be very happy with us burning money and we should stop it and save the earth instead.
I am totally bullshitting. Don't ever tell your Ah ma I said that.
I am born a taoist. My mum once told me Buddhism is supposingly a more superior religion. But I don't know why she didnt convert to it. We are still burning papers every seventh month of the lunar calendar which I thought was weird.
The first chapter of every econs lesson is the law of demand and supply.
When we burn paper notes during hungry ghosts festival, the ghosts are supposed to recieve the money right? But there are so many taoist around the globe, so there would be a lot money burned by the people and received by the ghosts during the 7th month. Hence, the supply of money will increase and shift the supply curve to the right. As such, assuming demand of the money by the ghost remain constant, the price of money will fall. Hence, the actual currency of paper notes will fall during the 7th month. Below is the graphical illustration. Therefore, I conclude that the ghost won't be very happy with us burning money and we should stop it and save the earth instead.
I am totally bullshitting. Don't ever tell your Ah ma I said that.