Current EventsBook ReviewsFun and GamesCulturesTeaching Resources

Supply and Demand: Basic Economics

More of this Feature

• Part 2: Supply Meets Demand

On This Site

• Want vs. Need: Basic Economics
Basic Economics: Scarcity and Choices
Basic Economics:

Elsewhere on the Web

• Supply and Demand

Fun Stuff

• Economics Quiz
Big Money Adventure

Part 1: Basic Supply and Demand

One of the most basis concepts of economics is Supply and Demand. These are really two separate things, but they are almost always talked about together.

Supply is how much of something is available. For example, if you have 9 baseball cards, then your supply of baseball cards is 9. If you have 6 apples, then your supply of apples is 6.

Demand is how much of something people want. It sounds a little bit harder to measure, but it really isn't. To measure demand, we can use a very simple numbering system, just like the supply one. If 8 people want baseball cards, then we can say that the demand for baseball cards is 8. If 6 people want apples, then we can say that the demand for apples is 6.

Did you notice that the baseball cards supplywas one more than the baseball cards demand? Did you also notice that the apples supply was equal to the apples demand? We'll get to that soon.

Next page > Supply Meets Demand > Page 1, 2

Graphics courtesy of ArtToday


exam 70-506 certification material, mcts 70-511 training exam dumps book, and 70-516 pdf study guide are our most demanding training courses. We also suggest exam 70-573 dumps and testking exam 70-452 certification material.

Custom Search

Follow SocStudies4Kids on Twitter


on this site

Social Studies
for Kids
copyright 2002-2014,
David White

Sites for Teachers