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Mr. Buffett says that while supply in reinsurance providers has gone up, demand for insurance has not.
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Higher education is a luxury good: as the price goes up, demand does not decline.
When the price of a television set or software package goes up, demand for it generally falls.
Though the pace slowed in 2001, a poor year for the economy, the market was soon bounding ahead again (see chart 7).In most markets, when prices go up, demand goes down.
This value, although elastic, suggests that as the price of electricity goes up, demand for electricity in this income bracket also increases.
When prices go up, demand goes down.
In other words, econ 101 once again: price goes up, demand goes down.
"Supply is going up, demand is going down, and the price is going up," she said, referring to recent data to that effect.
Economic theories of supply and demand hold that when the minimum wage goes up, demand for labor should go down — while some people receive higher pay, others get laid off.
When tax revenues go up, demands for new spending can be hard to resist so that when revenues go down again, a new hole in the budget opens up.Several countries have adopted rules designed to keep themselves on the fiscal straight and narrow.
In recent years a growing number of Israelis have gone up to demand a stronger Jewish presence on the Temple Mount.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com