This week when we started talking about delayed gratification, I had known what we were talking about. This is a topic I had seen many times before, but I had never been so in depth with the meaning of it. Another phrase used to describe this would be self- control. It is the ability to see that if you wait and stick something out, the rewards will be much greater than an initial reward. I had never thought about the fact that this was a foreign concept to me growing up, but it was. It was not something I was familiar with until I started focusing in more on school.
Words that I saw this week that caught my eye were equilibrium and complements. These are both words that I have seen and used before, but I had never seen them used in the context that I had this week. I heard both of these words used during my Micro-Economics class. Equilibrium is the perfect price and quantity of an item should be. This is decided based on the supply and demand of this product. It is where both supply and demand meet at an equal point.
http://www.investopedia.com/university/economics/economics3.asp
The word complement meant something completely different to me before this week. I used them in the instances of two people in a relationship complimenting each other. In Micro-Economics it means two items that are needed to be used together. They are commonly bought together.
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