To earn more profit
To earn more profit
market
market
The point at which producers and consumers agree on a price to sell and buy is known as the equilibrium price. This occurs in a market when the quantity of a good or service demanded by consumers equals the quantity supplied by producers. At this price, there is no surplus or shortage, ensuring that resources are allocated efficiently. The equilibrium price can change due to shifts in demand or supply, impacting market dynamics.
Supply schedule or a supply.
Because people will pay that much. They don't have to sell at a high price; they just can and do.
To make money. Buy low (price) sell high (price).
true
Its a Business, It is fine to sell it for a high price as long as the other party is willing to pay for it .
to buy a house at low price and sell it at high price after some time ; thus you can make more money .
Producers need to know what consumers want so they can sell more and make more profit.
producers need to know that consumers want so they can sell more and make more profit