Discover four key economic concepts: scarcity, supply and demand, costs and benefits, and incentives. Learn how they affect consumer choices and financial decisions.

Positive economics is a fact-based analysis of what is occurring in an economy, without making prescriptions of what should or should not be happening.

First SeenFirst seen: The term supply and demand was first seen in Sir James Steuart's 1796 treatise An Inquiry Into the Principles of Political Economy. When figuring out your monthly budget, ...

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 ...

Understanding housing demand dynamics through two indicators, income growth and population growth, provides important insights into housing affordability. Research shows that average U.S. income ...

It seems as though we cycle through one economic crisis to another. There’s been a lot of conversion lately about the high cost of eggs due to the egg shortage, which is due to the loss of laying hens ...