First SeenFirst seen: The term supply and demand was first seen in Sir James Steuart's 1796 treatise An Inquiry Into the Principles of Political Economy. When figuring out your monthly budget, ...

Discover what a demand shock is, its causes and impacts, plus real-world examples. Learn how these sudden demand changes ...

Simulations using a Phillips curve-type relationship provide insights into the importance of demand versus supply for inflation over different periods. The decade of low inflation after the Great ...

Discover what joint supply means in economics, how it results in multiple outputs, and see examples like livestock that yield both meat and hide.

Economists tell us that controlled inflation is a sign of economic growth. Central banks, such as the U.S. Federal Reserve, actually set monetary policy to maintain a consistent inflation rate of ...