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Basically I believe that this means that you are trying to interpret how people will react. Economics is broken down into 2 parts Micro and Macro economics.
Microeconomics is defined as: The study of the operations of the components of a national economy, such as individual firms, households, and consumers (www.answers .com accessed 02Oct07). This is a study of the relationship between the consumer and the supplier based on various fluxuations in the market.
The Law of supply is defined as: A microeconomic law stating that, all other factors being equal, as the price of a good or service increases, the quantity of goods or services offered by suppliers increases and vice versa (www...
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