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.

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    Road Building Results

    May 29, 11 • 291 Views • No Comments

    If extra road mileage is built, would you predict more or less traffic? The WSJ tells us that more roads led to additional driving from local residents, commercial traffic and people moving to the area. Public transportation did not influence driving...  [read more]

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    Job Matters

    May 28, 11 • 299 Views • No Comments

    Where do we work and how much do we earn? In the entire U.S., there are 2830 mathematicians, 3220 historians, and 225,450 fitness trainers and aerobic instructors. Employing 7.6 million, the largest occupational group is salespeople and cashiers. Here, you...  [read more]

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    Apple vs. Amazon in the Fight Over Gaga

    May 27, 11 • 328 Views • No Comments

    From a guest blogger, Frances Bird, AP econ student: Lady Gaga, America’s current pop queen sensation, is being used to boost Amazon sales, if not permanently, then temporarily. Amazon is using Lady Gaga’s recent album, Born This Way, to compete...  [read more]

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    Barbecue Inflation (A Hot Topic?)

    May 26, 11 • 367 Views • No Comments

    Shopping for your Memorial Day barbecue, you will pay close to 29% more than a year ago. According to the New York Post, not only is a gallon of gas up 44% in the NY area, but also, lettuce will cost you 28% more and tomatoes, 86%. In addition, the New York...  [read more]

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    Too Big To Fail

    May 25, 11 • 293 Views • No Comments

    The HBO documentary, “Too Big To Fail” was excellent. But what to come away with? TBTF (Too Big To Fail) solves problems and it creates them. TBTF can reverse a confidence crisis. When the world is worried that the failure of a large bank will...  [read more]