Today, there are not many different kinds of fruits displayed in stalls as usual and price is up. The sellers says it's due to bad weather several weeks ago but I already know they intentionally create scaricity of goods to trigger price up when the demand of them surges(Today is a fullmoon day and most of families try to buy something to put on the ancestral altar. The sellers do not study micro economics but they're so good in applying academy theories in daily life.
Now, let turn to the buyers's behaviors.Some people respond by purchasing oranges, bananas instead of apples. Some others go to bakery to buy cakes or candy boxes. The rest of the people simly do not buy anything.I pay attention to the group who purchase fruits.They say they still purchase fruits because an increase in price do not have a major impact on their budgets. It's also a choice but clearly it's not a wise choice