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QUANTITY DEMANDED: The specific (maximum) quantity of a good or service that buyers are willing and able to buy at a specific demand price. The emphasis here is on specific. Quantity demanded and demand price form a specific pair of numbers.
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SHORT-RUN AGGREGATE SUPPLY AND MARKET SUPPLY The short-run aggregate supply curve, or SRAS curve, has similarities to, but differences from, the standard market supply curve. Both are positively sloped. Both relate price and quantity. However, the market supply curve is positively sloped due to the law of diminishing marginal returns and the short-run aggregate supply curve is positively-sloped due to inflexible prices, the pool of natural unemployment, and imbalances in real resource prices.
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"Most human beings have an almost infinite capacity for taking things for granted. " -- Aldous Huxley, writer
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NYBOR
New York Interbank Offered Rate
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