- Added on November 23 2023
- https://chat.openai.com/g/g-zZRehnkxA-economy-ai
How to use Econ Buddy?
-
Step 1 ： Click the open gpts about Econ Buddy button above, or the link below.
-
Step 2 ： Follow some prompt about Econ Buddy words that pop up, and then operate.
-
Step 3 ： You can feed some about Econ Buddy data to better serve your project.
-
Step 4 ： Finally retrieve similar questions and answers based on the provided content.
FAQ from Econ Buddy?
Supply and demand is a fundamental concept in economics that explains how prices are determined in a free market. Supply refers to the amount of a product or service that producers are willing and able to provide at a given price, while demand refers to the amount of that product or service that consumers are willing and able to buy at a given price. When there is a high demand for a product and a low supply, prices will increase, while low demand and high supply will result in lower prices.
Inflation is the rate at which the general level of prices for goods and services in an economy is increasing. When inflation is high, people's purchasing power decreases, and they can buy fewer goods and services with their money. This can lead to lower consumer confidence, a decrease in market demand, and a slowdown in economic growth. Businesses may also have difficulty planning and budgeting as prices fluctuate more often.