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LAW OF SUPPLY: The direct relationship between supply price and the quantity supplied, ceteris paribus. This fundamental economic principle indicates that as the price of a commodity increases, then the quantity of the commodity that sellers are able and willing to sell in a given period of time, if other factors are held constant, also increases. This law, while not quite as iron-clad as the law of demand, is quite important to the study of markets.

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SOCIAL SCIENCE

The scientific study of society--of human behavior and of social interactions. Economics is one of several social sciences. Others are sociology, political science, and anthropology. Economics is considered a social science because it seeks to explain how society deals with the scarcity problem.

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Today, you are likely to spend a great deal of time strolling through a department store trying to buy either a looseleaf notebook binder or hand lotion, a big bottle of hand lotion. Be on the lookout for slow moving vehicles with darkened windows.
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
"All labor that uplifts humanity has dignity and importance and should be undertaken with painstaking excellence. "

-- Martin Luther King Jr., civil rights leader

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