Microeconomics: Market forces and markets

Abstract

The supply and demand of goods and services in a realm of property and planning are almost always not occurring via in complete direct control, the market containing thousands of producers and consumers, as individuals or organisations, will be making some of the allocation decisions. The focus of goods and services as playing a role in meeting market forces is relevant if elements such as supply and demand are being met in relation to property and planning. To use an example of public bus transport as a service in an area, microeconomics could help to deconstruct the basic elements of the product, methods of production, distribution, and efficiency in say the wider market for all transportation 'wants' in a place. It is difficult to find examples of perfectly elastic supply-side goods and services, although one that would aid in differentiating from inelastic supply goods and services is say a selling of fruit and vegetables at a market stall.