Like me, the last thing you wanted to hear at 8:00 AM as a college freshman was an economics professor drone on about supply and demand. Arcane concepts that only seemed practical when the local package store was sold out of the Budweiser Cans (supply) and we had to buy Michelob bottles which were two dollars more a case. Perhaps that’s the supply and demand lesson you recall from Econ 101 as well. Taking a macro view, supply and demand also refer to the broader sides of the overall economy.
To refresh, the supply side are the goods and services that are consumed. Everything from the factory that manufactures Jeep Wranglers in Toledo, Ohio, to the local deli where you can buy a bacon, egg and cheese sandwich for breakfast. The demand side of the economy represents those who procure of these goods and services; for example, the individuals, who buy the egg sandwich and eat while driving their Jeep. Additionally, the demand side includes businesses and government spending.
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