To calculate the Consumer Price Index between two years in Excel, take a sum of all the amounts spent on the basket of products over those two years. Then use the following formula to find the CPI ...

In economics, demand is the market force that decides how many units of a particular product or service buyers will purchase at a particular price. Labor is the work people in a particular market do ...

Consumer surplus is the amount exceeding an equilibrium price the consumer is willing to pay. The equilibrium price is an idealized price, in which the demand for the good equals its supply. If the ...

Sometimes external forces in the economy throw the supply and demand for a product or service out of whack. Trade quotas are a common and powerful example of one such external force. One way ...

Commodity prices are set by the balance of supply and demand dynamics. Market fluctuations in commodities influence both short-term prices and long-term productions. Price surges trigger increased ...

Measuring the inefficiencies created from import quotas. Sometimes external forces in the economy throw the supply and demand for a product or service out of whack. Trade quotas are a common and ...

One fundamental concept in economics is that supply and demand determine price. The greater the amount of supply of a product or service that's available and the less demand there is for it, the lower ...