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inflation
inflation - a general and progressive increase in prices; "in inflation everything gets more valuable except money" |
The Law of Demand
The Law of Demand
The law of demand states that, if all other factors remain equal, the higher the price of a good, the less people will demand that good. In other words, the higher the price, the lower the quantity demanded. The amount of a good that buyers purchase at a higher
The law of demand states that, if all other factors remain equal, the higher the price of a good, the less people will demand that good. In other words, the higher the price, the lower the quantity demanded. The amount of a good that buyers purchase at a higher
The Law of Supply
The Law of Supply
Like the law of demand, the law of supply demonstrates the quantities that will be sold at a certain price. But unlike the law of demand, the supply relationship shows an upward slope. This means that the higher the price, the higher the quantity supplied.
Like the law of demand, the law of supply demonstrates the quantities that will be sold at a certain price. But unlike the law of demand, the supply relationship shows an upward slope. This means that the higher the price, the higher the quantity supplied.
Shifts vs. Movement
Shifts vs. Movement
For economics, the "movements" and "shifts" in relation to the supply and demand curves represent very different market phenomena:
For economics, the "movements" and "shifts" in relation to the supply and demand curves represent very different market phenomena:
Disequilibrium
Disequilibrium
Disequilibrium occurs whenever the price or quantity is not equal to P* or Q*.
1. Excess Supply
If the price is set too high, excess supply will be created within the economy and there
Disequilibrium occurs whenever the price or quantity is not equal to P* or Q*.
1. Excess Supply
If the price is set too high, excess supply will be created within the economy and there
Equilibrium
Equilibrium
When supply and demand are equal (i.e. when the supply function and demand function intersect) the economy is said to be at equilibrium. At this point, the allocation of goods
When supply and demand are equal (i.e. when the supply function and demand function intersect) the economy is said to be at equilibrium. At this point, the allocation of goods
Supply and Demand Relationship
Supply and Demand Relationship
Now that we know the laws of supply and demand, let's turn to an example to show how supply and demand affect price.
Imagine that a special edition CD of your favorite band is released for $20. Because the
Now that we know the laws of supply and demand, let's turn to an example to show how supply and demand affect price.
Imagine that a special edition CD of your favorite band is released for $20. Because the
Saturday, March 1, 2014
THE SINDH LAND REVENUE (AMENDMENT) ACT, 2011. SINDH ACT NO. XXIII OF 2011
PROVINCIAL ASSEMBLY OF SINDH
NOTIFICATION
KARACHI, THE 15TH JULY, 2011
NO.PAS/Legis-B-24/2011- The Sindh Land Revenue (Amendment) Bill, 2011 having
been passed by the Provincial Assembly of Sindh on 13th July, 2011 and assented to by
the Governor of Sindh on 14th July, 2011 is hereby published as an Act of the
Legislature of Sindh.
THE SINDH LAND REVENUE (AMENDMENT) ACT, 2011.
SINDH ACT NO. XXIII OF 2011
Psychology Today
Psychology Today
is a general-interest magazine published every two months in theUnited States for a mass audience. It focuses on human behavior and covers a wide range of topics including psychology, neuroscience, relationships, health, work, and the psychological aspects of current affairs. The magazine's website features hundreds ofblogs written
A Briefer History of Time
A Briefer History of Time
is a popular-science book published in 2005 from the Englishphysicist Stephen Hawking and the American physicist Leonard Mlodinow. It is an update and rewrite of Hawking's 1988 A Brief History of Time. In this book
is a popular-science book published in 2005 from the Englishphysicist Stephen Hawking and the American physicist Leonard Mlodinow. It is an update and rewrite of Hawking's 1988 A Brief History of Time. In this book
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