4
Lesson 4 of 84 · Economics
How Money Works
Supply is how much is available; demand is how much people want. High demand and low supply push prices up. High supply and low demand bring prices down.
Key Facts
1
Money is a medium of exchange.
2
Needs are different from wants.
3
Supply and demand affect prices.
Check Your Understanding
Question 1
1 of 2What is trade?