Supply and Demand :An Introduction

                                 The Demand Curve    In the market for the Pizza,the demand Curve for pizza is a simple schedule or graph that tells us us how many slices people would be willing to buy at different prices.by convention,economies usually put prices on the vertical axes of the demand curve and the quantity on the horizontal axes.        A fundamental property of the demand curve is that is downward curve sloping with respect to price.For example,the demand curve for pizza tells us that as the price of pizza falls,buyers will buy more slices.Thus the daily demand curve for pizza in Chicago in a given day might look like the curve seen in the figure bellow.       The demand curve in the figure tells us that when the price of pizza is low say $2 per slices --buyers will want to buy 16000 slice per day,whereas, where they will want to buy only 12000 slices per day at the price $3,an only 8000,at the price for $4.The demand curve for pizza --as for any other good --slope

                         Supply and demand:An Introduction   T he stock of the foodstuff on the hand at any moment in New York City's grocery stores,restaurants,and privates kitchens is sufficient to feed the area's 10 million residents for the most a week or so.Since most of the residents have nutritionally adequate and highly varied diets,and since requires that millions of pounds of food and drinks be delivered to the locations throughout the city each day.       No doubt many New Yorkers,buying groceries at their favorite local markets or eating at their favorite Italian Hotels,give little or no thought to the nearly miraculous coordination of the people and resources that is required to feed the city residents on a daily basis,But near miraculous it is,nevertheless. Even if the supplying of the of the New York city consisted only of transporting a fixed collection of the operation ,requiring at least a small (and well managed)army to carry out.New York relies on a