Demand, Supply, and Markets

The ideas that explain how a market system functions, demand, supply and markets focus on consumer and business behavior. On the demand side, price is an incentive that encourages buyers to want more when low and less when high. On the supply side, with profit as an incentive, a higher price stimulates more production. Through examples, econlife looks at the countless individuals and groups composing the demand and supply sides of markets to see how price and quantity are determined.

  • 16260_3.21_000003056090XSmall

    Energy Policy Decisions

    Mar 21, 11 • 253 Views • No Comments

    Comparing the safety of nuclear power, oil, and coal, Slate columnist William Saletan helps us make some energy policy decisions. His focus is fatalities. In the oil supply chain, from 1969-2000, he cites 20,000 deaths. For coal, the number is 15,000...  [read more]

  • 16254_3.18_000003959847XSmall

    Soda Wars

    Mar 18, 11 • 433 Views • No Comments

    Diet Coke just pushed Pepsi out of the #2 spot in soda sales. Other soda facts… As reported by Beverage-Digest, Coke (17%) remains the most popular carbonated soft drink with Diet Coke (9.9%) next and then Pepsi (9.5%) and Mt. Dew (6.8%). The number...  [read more]

  • 16248_7.2_000004853053XSmall

    Now It’s Chocolate

    Mar 15, 11 • 247 Views • No Comments

    According to one recent news article, a Cadbury chocolate bar is missing 2 chunks but the price is the same. First we had a hedge fund trying to corner the cocoa bean market. Then came political turmoil in the world’s leading cocoa producer, the Ivory...  [read more]

  • Displaying different strategies, McDonald's and Starbucks call a 16 ounce cup different names.

    More Conspicuous (Coffee) Consumption

    Mar 11, 11 • 305 Views • No Comments

    The same story. But now it is about coffee. Increasingly affluent, the Chinese have begun to drink more coffee (in addition to using more oil, eating more meat and buying more handbags). When talking about China, the International Coffee Organization says...  [read more]

  • 16238_2.21_000006135757XSmall

    Would You Use the Strategic Petroleum Reserve?

    Mar 10, 11 • 180 Views • No Comments

    I am not sure what a giant salt cave is and cannot quite imagine 727 million barrels of oil. But, put them together and you have our Strategic Petroleum Reserve.  Concerned with supply disruptions after an OPEC embargo during the 1970s, Congress...  [read more]