which expands access to healthcare for millions of Americans, has further increased the demand.

These data tell us, as economists, that the market for healthcare professionals, and nurses in particular, will face

several challenges. Our study of supply and demand will help us to analyze what might happen in the labor market

for nursing and other healthcare professionals, as we will discuss in the second half of this case at the end of the

chapter.

The theories of supply and demand do not apply just to markets for goods. They apply to any market, even

markets for things we may not think of as goods and services like labor and financial services. Labor markets

are markets for employees or jobs. Financial services markets are markets for saving or borrowing.

When we think about demand and supply curves in goods and services markets, it is easy to picture the

demanders and suppliers: businesses produce the products and households buy them. Who are the
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