leahhashisaka leahhashisaka

29-06-2022
Business

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What is supply and demand?

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anthamh anthamh

29-06-2022

Answer:

Supply and demand is an interection between the sellers of a product and the people who want to buy that product. Price is affected by supply and demand in a market. Supply and demand is affected by technology and working conditions.

Demand and supply can be graphed to calculate the best price for a product. The space where the 2 lines meet is the equilibrium price.

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