Monday, September 15, 2014

"Mainstream media" article that extensively uses elasticity to describe a market. What a pleasant surprise!

A terrific article that explains the current market for corn using many micro and a few macroeconomic concepts.

Bumper crop is bummer for some (Edward Lotterman)

The main ones are  Elasticity of Demand and of Supply. Rare it is to find an article in mainstream media that uses correct terminology to describe economic events.  Warms my heart!

Check it out.  Offers MANY opportunities to practice drawing and analyzing basic supple and demand graphs.

Here is a quick "sketch" of what it looks like after all is said and done:

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