Second Years Guide to Ace Charms: A Study Guide
This book is intended for all who need a quick study reference guide for CHRM-201. It has a glossary of terms & its appropriate meanings for the entire course. Each chapter is based on a lesson; where it won't go into grave detail, but will give you the necessary components to study for upcoming tests & assignments. This does not include mid-term & final exams. All detailed information about each topic is in your official lessons with the Professor. DO NOT COPY AS IT IS PLAGIARISM!
Lesson Seven: Bewitchment Economics Study Guide
Magical objects are created to make life less complicated. For instance, using an invisibility cloak instead of fine-tuning the Disillusionment Charm over & over. Lots of objects are created for fun & entertainment, which are used as pranks or for excitement. A decoy detonator is an example of this.
Products such as invisibility cloaks are not cheap due to how time-consuming & how expensive the material is. Products such as chocolate frogs are low in price due to how easy & how uncomplicated it is. What also needs to be taken into account is supply. Every product sells at a price. However, if you create more than it sells, you will have many products go to waste. If you create too little, you will not make a profit, thus not earning any money in return for making the product. The consumer who purchases the products, depending on their wants & needs, will buy what they wish to make their life a bit easier. Basically, it benefits the customer & the company who created it.
When Are Magical Objects Made?
Magical objects are created based on the quantity of people willing to purchase it. Manufacturers have a set price on the item & must make just enough for demand. Advertising products are a method of getting customers to buy their product. Pictorial advertisments greatly increased in Medieval Europe. Protean Charms were used to send advertisments to their magical customers without being noticed by Muggles. In the twentieth century, Edward Bernays method was popular. The Compulsion Form was used.
⊱ Advertising are seen in the seventh century B.C.E.; in Ancient Egypt & in Greece, as well as China.
⊱ Sugar butterfly wings was also used as a thank you for purchasing snack.
⊱ Euphoria Elixir was used to entice people to keep shopping, but was banned in 1970.
⊱ In 1870, a lawsuit began against Prescott Pear's Pleasant Perfumes for Persnickety People for placing too many advertisments per customer.