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MARKET DEMAND: The total demand of every individual willing and able to buy a good. Market demand is found by combining the individual demands of everyone willing and able to buy a particular good. The market demand curve is found by horizontally adding all individual demand curves, that is, sum up the quantities demanded by all buyers at each and every price. Market demand operates according to the law of demand, as illustrated by a downward-sloping market demand curve. For higher prices the quantity demanded by all buyers in the market combined is less than the quantity demanded for lower prices.
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INFLATION PROBLEMS Two notable problems are associated with inflation--uncertainty and haphazard redistribution. Inflation, especially inflation that varies from month to month and year to year, makes long-term planning quite difficult. Prices, wages, taxes, interest rates, and other nominal values that enter into consumer, business, and government planning decisions can be significantly affected by inflation. Moreover, inflation tends to redistribute income and wealth in a haphazard manner--some people win and some people lose. This redistribution might not be that desired by society, failing to promote any of the basic economic goals of efficiency, equity, stability, growth, or full-employment.
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WHITE GULLIBON
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Today, you are likely to spend a great deal of time searching the newspaper want ads seeking to buy either a graduation present for your niece or nephew or a toaster oven that has convection cooking. Be on the lookout for telephone calls from long-lost relatives.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"Rowing harder doesn't help if the boat is headed in the wrong direction. " -- Kenichi Ohmae, management consultant
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AIFT
American Institute for Foreign Trade
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