Demand is from the consumer's perspective while supply is from the producer's. Supply in economics is defined as the producer's willingness and ability to supply a given good at various price points, holding all else constant. An increase in price will increase producer's revenues, thus they are willing to supply more; a decrease in price will reduce revenues, therefore producers will supply less.
On the brink of President Obamaâs expected executive action on immigration, rumors of another potential government shutdown are swirling. It was just over a year ago when, on Oct. 1, 2013, the government shut down for 16 days after Congress was unable to agree on a budget for the new fiscal year. Why Washington Is Talking About a Government Shutdown -- Again.
While the U.S. government shutdown may merely be an afterthought or an inconvenience for some people, it's costing the economy and taxpayers plenty. So how much does the government shutdown cost? The daily tab for the government shutdown is a whopping $160 million. The shutdown cost some $1.6 billion in lost output from the $15.7 trillion U.S. economy in its first week alone, according to global market research firm IHS Inc. Bloomberg reported that two days into Week 2, the government shutdown cost equaled $2 billion in economic damages â the same amount that heavy rains, flash flooding, and mudslides in 17 Colorado counties cost the state last month.