law of supply

Law of Supply

Because the quantity supplied rises as the price rises and falls as the price falls, we

Factors of Demand

Factors of Demand

Price isn’t the only factor that affects quantity individual demands. So what other factors of demand

law of demand

Law of Demand

Law of Demand says if we raise the price of a product, it will lower the quantity

Circular Flow diagram

Circular flow diagram

Circular flow Diagram is a visual model of the economy that shows how dollars flows through markets

marginal change

Marginal Change

What is Marginal Change? Economists use the term marginal change to describe small incremental adjustments to