Monday, September 03, 2007

Management Lite & Ezy 43 – Economics 101

The analysis of supply and demand is the basic of economics.

Demand is a function of price. Generally, quantity of a product or service a buyer willing to buy drops when its price increases. This is illustrated by the market demand curve, as shown below:

Supply, as a function of price, is just the opposite. As price increases, the amount of a good or service that will be produced also increases. This is illustrated by the market supply curve:


  1. Yeah, I can get MBA classes for free. Precise, short, straight to the point, can consider doing lecturing in the future :)

  2. princess,
    I will consider doing lecturing if I am out of luck in the corporate world.

    BTW, I remember your brother had completed his MBA, so you can learn a thing or two from him. Perhaps what I can guide you is posing technique. Post more photos to your blog ;)