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Reflect on the message of the poem below.


Supply and Demand
The Invisible and
this the the economy shrinks and expands?

Are your goods elastic
Or melastic state
When you re your price is it sweet or tragic?

Does your income waver
As you look for labor
Is it inferior goods you favor?

Is there a substitute
For the pricey things you choose
Will the demand curve shirt when you get a clue?

By Gordon Snyder



Sagot :

Explanation: this poem is describing our community and world today thus the meaning of invisible hand is An Inquiry into the Nature and Causes of the Wealth of Nations." It referred to the indirect or unintended benefits for society that result from the operations of a free market economy. the meaning of elastic and melastic means Inelasticity and elasticity of demand refer to the degree to which demand responds to a change in another economic factor, such as price, income level, or substitute availability. Elasticity measures how demand shifts when other economic factors change. When fluctuating demand is unrelated to an economic factor, it is called inelasticity.