Supply, demand, surplus, DWL, and elasticity | Microeconomics
Supply, demand, surplus, DWL, and elasticity | Microeconomics
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The law of supply and demand is often misunderstood and misconstrued, and it has downstream effects for our understanding of economics. In this video, Learn Liberty Basics establishes supply and demand as ever-changing RELATIONSHIPS, not constants. We also lay out some of the early history of our idea of supply and demand. Be sure to check out the Learn Liberty Blog, too! You can read more about the tendency to understand economics as just charts and graphs here: https://www.learnliberty.org/blo
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The law of supply and demand is often misunderstood and miscons…
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FacebookLearn Liberty
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