The law of supply and demand compares supplier preferences (i.e. supply) with consumer preferences (i.e. demand). All else being equal, supply rises while demand declines as the price increases.

The law of supply and demand is a fundamental concept of economics and a theory popularized by Adam Smith in 1776. The principles of supply and demand are effective in predicting market behavior.

The economic laws of demand and supply determine the markets for products and their equilibrium prices. However, economic forces can cause shifts in the demand and supply curves for a product and ...

Introductory-level economics uses supply and demand curves to identify the "ideal" price for a product, service or other economic activity. In Econ 101, these curves assume that the economy is workin ...

Cielo Magno’s social media post on September 1, 2023 on the supply and demand graph with a price ceiling accompanied by the the caption “I miss teaching” became viral recently.

The concept of the profit function provides an alternative approach to the analysis of production. First, a brief exposition of the theory of profit function is presented. Then the profit function and ...

Thomas Sowell — Thomas Sowell is an American economist, social theorist, political philosopher, and author, whose books include Basic Economics.

This post explains how to analyze a pandemic-induced economic depression using Keynes’ framework, a framework developed by Keynes to analyze the causes of, and remedies for, the Great Depression.