The demand curve is one of the fundamental concepts of economics. It illustrates the relationship between the price of a good or service and the demand for that product, that is, the way a change in ...

Elasticity is an economic concept that demonstrates the effect of a product price change on demand. For example, a product such as milk is an inelastic product, since a price change will not ...

An Excel workbook called DemandCurve.xls provides a simple example of how to use Solver and the Comparative Statics Wizard to set up a standard consumer theory optimization problem and then derive a ...

In an article in this journal (fall 1985), Hansen, McCormick, and Rives argued that the derivation of the aggregate demand curve rested on a flimsey foundation. Barron and Lynch defend the commonly ...

The Economic Journal was first published in 1891 with a view of promoting the advancement of economic knowledge. Today, The Economic Journal is among the foremost of the learned journals in economics.

Simulations using a Phillips curve-type relationship provide insights into the importance of demand versus supply for inflation over different periods. The decade of low inflation after the Great ...