How does economic growth affect you? Why does understanding economics matter to you?

The growth of the economy of a country generally affects what the consumption of the people of the population of the country that integrates it, so that the country that has growth also lower certain levels such as inflation. It would affect me when I buy some good or service because these are directly impacted.

For example: the gas we put in our car is governed by an international behavior which affects the economy of the country, is that we will observe price fluctuations every time we fill our tanks.

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.