Supply and Demand, Considered Separately

Evan Osborne

Chapter Chapter 2 in Reasonably Simple Economics, 2013, pp 15-32 from Springer

Abstract: Abstract Asked what something costs, your reply will almost surely be in the form of a number, expressed in dollars if you are an American. But why is the number what it is? Why does a sandwich cost $3.50, a gallon of gas $4.00, some books $20, others $40, a new car $20,000? Probably you have some sense of the answer, which involves the costs for the things needed to make these items. Sandwiches need meat and bread, and books need paper and ink. Cars need rubber, several kinds of metals, upholstering, and all manner of other resources. All of these things cost money, as does the time of workers hired.

Keywords: Marginal Cost; Opportunity Cost; Demand Curve; Solar Panel; Supply Curve (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-1-4302-5942-8_2

Ordering information: This item can be ordered from
http://www.springer.com/9781430259428

DOI: 10.1007/978-1-4302-5942-8_2

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().