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The laws of supply and demand make up a crucial piece of our economic system. They may even sound like something that most people don't have any need for. But consumers encounter them every day, whether they know it or not. Readers will learn that whenever we buy something, see a commercial for the season's hottest new product, or decide that we can't afford that new smartphone, the laws of supply and demand are at work. Understanding the concept of supply and demand will help readers understand why we spend money, and even help them make better decisions with their spending

Supply and demand is a basic necessity of economics used for setting price based on availability. This guide explains supply and demand in a manner that makes it easily comprehensible for a young adult and teen audience. From the simple cost of labor to how production affects the modern consumer, this guide is a must-read for any young economist

Defining supply and demand -- The history and development of supply and demand -- A market in disequilibrium -- The supply and demand of oil -- Demanding alternative energy -- Glossary -- Further information -- Selected bibliography -- Index -- About the author.

This volume offers a concise overview that's perfect for young readers who are just learning about economics. A basic overview of supply and demand breaks down the concept with clear explanations of each aspect, using concrete examples to which readers of the focus age group can relate and understand. Vibrant illustrations help reinforce the text, and pertinent vocabulary is highlighted in bold boxes or in the glossary. Questions throughout help readers put the ideas into context. This lively text keeps readers engaged and turning the pages