Supply and Demand (econ essay)

[magus341]

How is the price of things determined? When we go to the store, the prices are all written out on the things we buy. The temptation is to assume that the store decides how much things should cost, and technically that is true to some degree. But if that were the whole truth, why wouldn't they raise prices indefinitely? If the price is too high

Comments

[psyllogism]

Why are supply & demand "curves" usually shown as straight lines?

Also, you might enjoy this XKCD comic about freedom and choices :-)

[magus341]

Because usually undergraduates take econ 101 before they take calculus. I really think that's all there is to it.