Monthly Archive: August 2015

Economics: The Law of Supply and Demand

We have already talked about the Law of Supply, and the Law of Demand. Now, let us put them together and look at this basic law of economics, the Law of Supply and Demand. Now, first, let us review the Law of Demand. The Law of Demand says, the more expensive something is, the less people will buy it. Also, the more people want something, the more expensive it will get. For the Law of Supply, it says that the more expensive something is, the more people will sell it. On the other hand, the more sellers there are, the...