1 jan 1842 ano - -Using both supply and demand as factors of price determination, the supply-and-demand curve is used to demonstrate the point at which the market is in equilibrium. -Price elasticity of demand, which examines how price changes affect demand. The prices of some goods can increase without reducing demand, which means their prices are inelastic. Inelastic goods tend to include items such as medication or food, that consumers deem crucial to daily life. (Linha do tempo)