What is this called in economics?

Social Science by Anonymous 2018-07-03 09:30:17

Social Science

4 answers

I don't buy beef anymore because it's too expensive. Hypothetically, if everyone stopped, it would get cheap again, and back and forth and back and forth again.

Anonymous

perfectly inelastic demand for beef. And your hypothesis is called a cobweb cycle.
Anonymous

similar to "pig cycle"
Anonymous

Supply and demand.
Anonymous

Boom and bust