Fundamental demand and supply theory implies that the final price of a good displays the value placed on it (and thus, satisfaction gained) by consumers. If the retail price of a good is higher than the value placed on it by consumers, quantity demanded will fall, and thus, in theory, price would automatically fall to […]

As I refresh my knowledge on the vast, yet somehow focused subject that is economics, I’ve often wondered whether I could answer what the hell economics actually is off the top of my head. When I think about it, I’ve actually studied Economics at O-Levels, and recently, A-Levels, and am about to embark upon a […]