Demand-side inflation occurs when demand for a product at a particular price exceeds the product's supply. Out of the two types of inflation, demand-side inflation is the most common. More »

Inflation generally increases when the gross domestic product (GDP) growth rate is above 2.5 percent due to several factors, such as demand for goods overstretching supply and higher wages in an ultra-competitive job mar... More »

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 »

Inflation can rise as a result of a number of factors, such as an excessive monetary supply — which devalues currency, causing a rise in prices — and excessive pressure on supply and demand, usually caused by natural dis... More »

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The law of supply and demand in economics indicates that a "surplus" exists when supply of a given product exceeds demand. If the supply of gum exceeds demand, for instance, resellers end up with excess inventory that th... More »

The global factors that affect the price of oil include demand, supply issues and geopolitical flashpoints. These factors constantly change, causing the price of oil to increase or decrease. More »

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Another term for "equilibrium price" in economics is "market-clearing price," which is a price point at which the market achieves a balance in terms of supply and demand. When the market reaches a market-clearing price, ... More »