Why are Libraries important?

Libraries are a piece of our lives that we take for granted. But what would happen if libraries were taken away?

Due to budget problems, libraries have to cut back. Sometimes governments are in such a state of instability, they drastic reduce the amount of money allotted to the library system that they support. During these time periods, services are reduced, hours are reduced, and some libraries discontinue their services for a temporary period.

Without libraries, people who need access to computers would not have the availability of a free computer with internet access. These computers help students and adults research topics. Some adults even use resume programs to help advance their careers.

Libraries don't just provide books for recreational reasons, many libraries have an extensive nonfiction sections. These sections help patrons research their favorite topics. These sections of the library often have a local history section. This helps younger students with school projects and helps local people research their families.

Besides just books, libraries have other important purposes too. Youth programs, like story hour, toddler time, and book discussions. These programs are intellectually stimulating; offer volunteer opportunities for craft time, and get youth excited about reading and exercising their knowledge. Through this they get out books that they discussed and read, and similar books. This helps the fiction sections thrive.

When a budget is being voted on, remember, there are important things that shouldn't be taken for granted. "You never know what you have til' it's gone." Watch your government closely, you never know what they could cut when they are desperate and against the wall.

Libraries and Economics (Assignment 1)

Librarians are people who help others in their quest for knowledge. They supply their patrons with books, websites, access to computers and other reference materials. They appease the demand with library cards and advice with school projects. They compete in a small market. Their main competition is book stores. Libraries offer a substitute to buying books. Since the books are free, they are neither an inferior good nor a normal good. The libraries produce neutral goods. This is because income has no affect on the taking out of books, using computers, borrowing and using reference materials.

Sometimes libraries are affected by shortages. County and State governments run libraries. When these governments realize they are in a deficit, the libraries must cut back on their hours and materials budget. Some areas even close their libraries down. Although libraries are important, they are in an elastic supply,(This means that they are affected by price changes and income changes. The higher prices are for books and utilities such as electricity, the materials budget is affected negatively through the amount of new materials and the library's hours would be decreased, and if the price of books and utilities decreased, the more new materials are available, and the more hours a week that the library is open)

When we speak of money in other topics, we speak of income and other matters. In this case, when we speak of price, we speak of the money allotted to a libraries. The money allotted to libraries are used for materials budget, and the matiance of the library itself. If the library can not produce enough funds to keep the building maintained, (through government money allotted for the library, government grants, and donations to the library by the public) the library closes down and the materials budget is spread through the other libraries in the system.

Sometimes there are surpluses in the library system. This surplus is often used to help aid in materials budget and may end up helping a new library open. Surpluses can also cause the ability for a library to hire a new page or librarian.

Books can be considered a Quantity supplied. This is because the books are free; therefore, people can get many books. (Or as the textbooks states, "The number of units of a good produced and offered for sale at a specific price.") The sale is every consumer's dream. The good is for FREE. Quantity demanded refers to the fines that libraries charge for overdue books. For every day that a books is overdue, 10 cents is charged to the patron. If you think of it as the person is purchasing an extra day with the book, this scenario fits the definition of quantity demanded. The definition is the number of units of a good purchased at a specific price.

Libraries also provide a complimentary good, music. This is because some people like to listen to music as they read. When people come to check out books, they sometimes check out a CD or a book on tape to help themselves relax, or to help concentrate on the book.

The Law of Demand does affect libraries. Libraries provide a good for the lowest possible price. The Law of demand states that as price goes down the desire to use or buy a product goes up. Since the Law of Demand does affect libraries, the demand schedule does apply to libraries. This is because the demand schedule is simply a numeric representation of the Law of Demand. The same applies to demand curve, this is because demand curve is only a graphic representation the Law of Demand.

As stated earlier, the less money available, the less books and hours. The more money, the more books and hours. This is the Law of Supply.This means that supply curve and supply schedule do apply to libraries. This is because they are simply graphic and numeric representations of the Law of Supply.

Elastic Demand occurs in the economics of libraries. When the 6th Harry Potter book came out, many consumers considered the price of the book too high, but they were dying to read it. Therefore, they put themselves on a waiting list at their library months in advance. The quantity demanded was greater than the percentage change in price. Therefore, the consumers used the library as a substitute.

Harry Potter also serves as an example for inelastic demand. This is because there were not enough books for all who wanted copies. The people who reserved at the last minute had to wait for others to finish the books. Other patrons quickly depleted the quantity availible. The price was the time that the patrons had waited. In summery, the price change was greater than the quantity change. Due to materials budget, the quantity didn't change and the patrons waited their turn for Harry Potter.

Inelastic supply is hard to tie in with libraries. The definition of inelastic supply is the kind of supply that exists when the percentage change in quantity supplied is less than the percentage change in price.

Equilibrium is the point in a market at which the quantity of a good that buyers are willing and able to buy is equal to the quantity that sellers are willing and able to produce and offer for sale. (Quantity demanded is equal to quantity supplied) Libraries provide a very unique equilibrium that is very favorable to consumers. They offer their goods for free. Since the goods are bought and sold for free, the equilibrium price is zero dollars and zero cents. Since the products are borrowed not bought, there is no equilibrium quantity.

Libraries have helped us do so much. When there is a shortage, many people realize the flaws and cut them. Sometimes the flaws are helpful. Youth programs and employment opportunities help the development of the community. Support your library, you don't realize how helpful it is until its gone.


Terms to be used in this blog assignment;
Demand, Quantity Demanded, Market, Demand Schedule, Law of Demand, Normal Good, Inferior Good, Substitute, Neutral Good, Complement, Elastic Demand, Inelastic Demand, Supply, Law of Supply, Quantity Supplied, Supply Curve, Supply Schedule, Elastic Supply, Inelastic Supply, Shortage, Surplus, Equilibrium, Equilibrium Quantity, and Equilibrium Price.

Who am I? and What am I doing Here?

Hello,
I am interested in becoming a Librarian. I volunteer at my local library, and at a school library. Through this volunteering, I am familiar with the Dewey decimal system. Even though numbers easily confuse me, I can keep a nonfiction section in order. I can also keep a fiction, and biography section in order. (Thankfully, those sections are alpabetical by author/topic) Another thing that I learned through volunteering is that Story Hour is one of the simple joys of life. Story Hour is the one time where you can sing silly songs, do crafts with GLITTER, and listen to some of the greatest books ever. From Dr. Seuss, to Eric Carle, all of the books are wonderful. I am so fortunate to still be participating through helping the little ones enjoy their craft time. Story hour is the only "job" where you get to listen to storys, sing songs, play with the flannel board and scream the ABC's while you work. My friends do not understand why I tell them of the fun I had singing, "there's a hole in the bottom of the sea" and "be kind to your webbed footed friends", but the little ones taught me to enjoy life. Although on some days I do get tired trying to keep up with them, I owe them so much for giving me a new outlook on life.

I enjoy reading all types of books, from political books such as The World is Flat to fantasy books such as A Wrinkle in Time and Harry Potter.

As you can see, I am still learning the ins and outs of Library Science, advice is always welcome. I do know that there is more to this field than shelving, sorting, and checking out books. I am curious to see other standpoints on Library Science.