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Econ 101 states that all prices are set by supply and demand. Money doesn’t even get introduced until later.
by wbsss4412 4y ago
Econ 101 states that all prices are set by supply and demand.
Money doesn’t even get introduced until later.
- meatbundragon 4y agoDepends on where you took Econ 101, I guess. When I took Econ 101, it did cover monetary policy and inflation. I believe it was covered in AP Macroeconomics/Microeconomics in high school as well.
- wbsss4412 4y agoTo be transparent, I took Econ 101 over a decade ago and don’t remember. A better way to have phrased my post is that economics fundamentally understands price levels as being driven by supply and demand, and everything else influences prices though effects on supply and demand.