staple

(noun)

A basic or essential supply.

Related Terms

Examples of staple in the following topics:

  • Arguments for and Against Government Price Controls

    • First, these regulations can ensure that a basic staple, such as food, remains affordable to most of a country's citizens.
    • During the depression the US government fixed prices on basic staples, such as food, to ensure people would be able to obtain their basic necessities.

  • Market Demand

    • Two different hypothetical types of goods with upward-sloping demand curves are Giffen goods (an inferior but staple good) and Veblen goods (goods characterized as being more desirable the higher the price; luxury or status items).

  • Willingness to Pay and the Demand Curve

    • Bread is a staple and it is the cheapest option out of the food available.

  • Federal Efforts to Control Monopoly

    • The case involved a home office supply company, Staples, and a building supply company, Home Depot.