The explosive growth in computer demand
We can illustrates the law of downward-sloping demand for case of the personal computers (PCs). The price of the Int PCs high and their computing power Was relatively modest.They were found in few businesses and even fewer homes.It Is hard to believe the just 20 years ago students wrote most of their papers in longhand and did most calculation by hand or with simple calculators.
But the prices of computing power fell sharply over the last two decades. As the prices fell, new buyers were enticed to buy their first computer.PCs came to be widely used for work, of school, and for fun. in the late 1990s, as the value of computers increased with the development of the internet, yet more people jumped on the computer bandwagon. worldwide, pc sales totaled about 100 million on 1999.
figure 3-3 shows the prices and quantities of computer and peripheral equipment in the united states as calculated by government statisticians. The prices reflect the cost of purchasing computer with constant quality-that is they take into account the rapid quality change of the average computer purchased. you can se how falling prices along with improved software, increased utility of the internet and e-mail, and other factors have led to an explosive growth in computer output.
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