Class 30: Summary for test + supply

Today, Mr Rizzo summarizes all the important stuffs that are required to know before entering the exam, such as "cost requires an action and a person", the law of demand and elasticity for normal goods and inferior goods. Then he talks about the law of supply, which basically means if you can make money, you will want to respond to it more. Similar to demand and the law of demand, there is also the concept of supply and quantity supply.