I just finished my assignments on this subject and gained some valuable insights into the mysterious world of Economics. Here are some definitions:
Demand - what you make when you want to go shopping
Supply - credit card of your boyfriend
Demand forecasting - how accurately your boyfriend can gauge your impending urge to shop
Law of supply - the less money your boyfriend has, the more you will want to shop
Elasticity of demand - a woman's demands are never ending. Period.
Production function - how many credit cards your boyfriend has or can procure. Also, how much money does he make
Monopoly - having only one boyfriend
Oligopoly - having 2 boyfriends to choose from
Perfect Competition - when you are happily playing the field. There are no entry restrictions.
Opportunity Costs - what you miss when you choose one guy over the other
Cost Benefit Analysis - a girl's guide on how best to choose the right boyfriend.
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