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.

Another Oil Problem

Affecting millions of salads, there is a European and U.K. produce shortage while the supply of Spanish, Italian and Greek olive oil is also down.…

The Upside of Uber’s Surge Pricing

An Uber economist tells us that people are more likely to schedule a ride during a surge when their cell phone battery is low. Where are we going? To the supply side of Uber. Uber Driver Behavior A ty…

What Happens When the Price Isn’t Right

Maybe 20% of all online prices change daily. Some even change every few minutes. When the Wall Street Journal compared Amazon, Sears and Best Buy, they saw intraday prices bounce between a low of $744…

The Travels of Our Jeans

At a facility in Western India, you would see the worn clothing that sorters had grabbed from a conveyor belt. Separating the T-shirts, the jeans, the sweatshirts and every other garment you can imagi…

Predicting the Election

Today, let’s take a look at what three markets are saying about the U.S. presidential election. A Currency Market The Mexican peso/dollar foreign exchange market says that Mexico would not be pl…

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