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The law of supply is an economic concept stating that the price and supply of a good or service are directly elastic to each other. When the price of a good or service increases, the supply of that particular good or ser... More »

www.reference.com World View Social Sciences Economics

California Civil Code, section 1542, allows for a creditor to collect from a debtor even after a lawsuit has been settled. Under this section of the California Civil Code, if a circumstance or claim exists without the cr... More »

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The law of demand is a foundational concept of economics which indicates that demand for a particular good rises as the price for the product falls. Inversely, when the price for a good rises, demand falls. More »

www.reference.com World View Social Sciences Economics
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The law of demand is a foundational concept of economics which indicates that demand for a particular good rises as the price for the product falls. Inversely, when the price for a good rises, demand falls. More »

www.reference.com World View Social Sciences Economics

The law of supply and demand is an unwritten rule which states that if there is little demand for a product, the supply will be less, and the price will be high, and if there is a high demand for a product, the price wil... More »

www.reference.com World View Social Sciences Economics

A shortage or surplus occurs when the supply for a good or service does not equal demand, with shortages causing a general rise in price and surpluses causing prices to fall. The price change continues until a new equili... More »

www.reference.com World View Social Sciences Economics

Elasticity is a term that describes how much the demand or supply for a product or service changes in relation to that product’s price. Each product on the market today has a different level of elasticity. Products consi... More »

www.reference.com World View Social Sciences Economics