Supply & Demand
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School House Rock rocks. 'Nuff said.
The Hannah Montana craze of a few years' back is mostly a memory now; young Miley Cyrus is trying to transition her career in a more, ahem, adult direction. But there may be no better illustration of the workings of supply and demand than the fact that some person paid $13,000 for four tix to a Hannah Montana show. Hope it was good!
During this recession, ticket sales to ballgames have held up pretty well. But bleacher hot dog sales have flatlined. What does that say about the relative price elasticity of tickets vs. hot dogs?
What happens to the dating scene when college enrollments shift toward a 60/40 female/male split? Think about your supply and demand curves and you'll probably be able to guess the answer.
Forbes' Investopedia offers a nice, clear breakdown of the basic principles of supply and demand here.