- published: 14 Aug 2015
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Supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers (at current price) will equal the quantity supplied by producers (at current price), resulting in an economic equilibrium of price and quantity.
The four basic laws of supply and demand are:
Although it is normal to regard the quantity demanded and the quantity supplied as functions of the price of the good, the standard graphical representation, usually attributed to Alfred Marshall, has price on the vertical axis and quantity on the horizontal axis, the opposite of the standard convention for the representation of a mathematical function.
Since determinants of supply and demand other than the price of the good in question are not explicitly represented in the supply-demand diagram, changes in the values of these variables are represented by moving the supply and demand curves (often described as "shifts" in the curves). By contrast, responses to changes in the price of the good are represented as movements along unchanged supply and demand curves.
Dr. Henry Walton "Indiana" Jones, Jr. is a fictional character and the protagonist of the Indiana Jones franchise. George Lucas and Steven Spielberg created the character in homage to the action heroes of 1930s film serials. The character first appeared in the 1981 film Raiders of the Lost Ark, to be followed by Indiana Jones and the Temple of Doom in 1984, Indiana Jones and the Last Crusade in 1989, The Young Indiana Jones Chronicles from 1992 to 1996, and Indiana Jones and the Kingdom of the Crystal Skull in 2008. Alongside the more widely known films and television programs, the character is also featured in novels, comics, video games, and other media. Jones is also featured in the theme park attraction Indiana Jones Adventure, which exists in similar forms at Disneyland and Tokyo DisneySea.
Jones is most famously played by Harrison Ford and has also been portrayed by River Phoenix (as the young Jones in The Last Crusade), and in the television series The Young Indiana Jones Chronicles by Corey Carrier, Sean Patrick Flanery, and George Hall. Doug Lee has supplied Jones's voice to two LucasArts video games, Indiana Jones and the Fate of Atlantis and Indiana Jones and the Infernal Machine, while David Esch supplied his voice to Indiana Jones and the Emperor's Tomb and John Armstrong in Indiana Jones and the Staff of Kings.
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