The laws of supply and demand are foundation concepts in the field of economics. The law of demand indicates that under typical circumstances, the greater the price of a good, the lower the demand. The law of supply indi... More »

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 concept of demand and supply states that for a market to function, producers must provide the goods and services that customers need. "Supply" represents the amount of goods a market can provide, while "demand" stand... More »

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 »

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 »

The laws of supply and demand affect the price of natural gas. There are few available short-term alternatives to the product for purposes such as heating and the generation of electricity. Accordingly, when the supply o... More »

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When an economist speaks of demand economics, he is generally referring to a demand curve. A demand curve tracks a service or good in relation to its price. The most commonly known concepts in demand economics are the la... More »