The Dynamics of Supply & Demand

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Institute of Economic Affairs

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Published on April 19, 2024 12:08:59 PM ● Video Link: https://www.youtube.com/watch?v=MLOebF7wQ5A

Duration: 0:24

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Julian Jessop discusses the common perception of providers taking advantage when prices rise due to short supply. While acknowledging the human aspect of this viewpoint, he explains its economic fallacy. He emphasises that the increase in price and profit is essential to rebalance supply and demand, addressing the initial problem. Gain valuable insights into market dynamics in this week's IEA Podcast on the IEALondon youtube channel. #inflation #prices #economics