The law of supply and demand explains how changes in a product's market price relate to its supply and demand. Demand for basic necessities is less responsive.

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, ...

Inflation has remained at levels well above the Federal Reserve’s inflation goal of 2% for over a year. Separating the underlying data from the personal consumption expenditures price index into ...