Here is the next instalment from the ‘Economics‘ textbook. It covers the concepts of supply and demand – concepts which are very simple, yet help us understand a lot about how economies function.
If you read it, you should understand why strict anti-drugs laws make drug-dealing so lucrative, and why you would have got a nice pay rise if you survived the Black Death!
As this is the last Chapter in Part 1, I’m going to take a break before starting on Part 2. That’s not to say I might not expand upon this Chapter in following posts.