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The shortest distance between two points is a straight line,
but that is seldom the most scenic route.1
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The Laws of Economics and Some Latin Vocabulary

ceteris paribus

other things being equal
The Supply Side
 
Law of Increasing Opportunity Cost
 
Law of Supply
and ceteris paribus
  An illustration of the
Law of Supply
  
Market Supply Curve
  
Quantity Supplied versus Supply
   
Decrease in Supply of Tomatoes from news headlines
The Demand Side
 
Law of Diminishing Marginal Utility
 
Law of Demand
and ceteris paribus
  An illustration of the
Law of Demand
  
Market Demand Curve
  
Quantity Demanded versus Demand
   
Increase in Demand for Chicken from news headlines
   
Increase in Demand for Firewood from news headlines
   
Decrease in Demand for Travel to the Beach from news headlines
Law of Demand and Law of Supply
  Shifts in Demand and shifts in Supply lead to changes in Equilibrium Price and Equilibrium Quantity
  
Not Plain Vanilla

caveat emptor

Let the Buyer Beware
My other sites and pages
Learning and Teaching
on tripod.com
Toastmasters @ MIT Evening Meeting Site
on oocities.com
Boston Association for Business Economics
on oocities.com
Sailing
on netscape.com
My Old House
on angelfire.com
Boston Speech Party
archived on oocities.com
Teaching at Bentley
formerly on bentley.edu, archived on tripod.com
Teaching at UMass / Boston
on umb.edu
Travelogue
Boston
where I am now
1 In Euclidean Space.

My URL: http://www.oocities.com/economissed/
Contact:
Kevin L. Carlson
last update: 26 February 2006

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