Document Type
Instructional Material
Publication Date
4-2-2009
Abstract
Interaction of Supply and Demand--in a free-market economy, price is a function of supply and demand. In most cases, competitive markets send resources to the uses in which they have the highest value. Elasticity is the measure of the responsiveness to changes in prices.
Repository Citation
Fitts, Matthew Shane, "Supply and Demand [12th grade]" (2009). Understanding by Design: Complete Collection. 88.
https://digitalcommons.trinity.edu/educ_understandings/88
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-Share Alike 3.0 License.