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The concept of supply and demand is one of the core foundations of economics (and is mostly applied in most of life's functions). In a nutshell, supply and demand is used for price determination in a market i.e. price will function to equalize the amount of something to be produced/serviced (supply) and the amount of something consumers intend to purchase.
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∙ 13y ago
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∙ 15y agoplease give an exaple of individual demand , market demand & aggegate demand
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∙ 10y agobecause dome people love the way you lie and want to come oba here and stop the indivuadls of things
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∙ 10y agoIn which economic system does mainly supply and demand guide choices? a. market economy b. command economy c. traditional economy d. communist economy
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Can supply create its own demand?
Yes demand can create its own supply, the Keynesian economist view believed this. Markets will always try to meet demands because they want to gain the most they can from it therefore will create a supply to match demand.
Is characterized by the unregulated exchange of service and goods?
A free market is a market where prices are determined by supply and demand. Free markets contrast with controlled markets in which prices, supply or demand id directly controlled.
Demand and supply in relation to the price of insurance premiums?
Nearly all commercial transactions in fairly free markets are subject to the law of supply and demand.
Does supply create demand?
Simply - YES Without some form of demand for a product there will be no necessity to supply.
Where does all the buying selling supply and demand for a product take place?
markets.
Can supply create its own demand?
Yes demand can create its own supply, the Keynesian economist view believed this. Markets will always try to meet demands because they want to gain the most they can from it therefore will create a supply to match demand.
What helped industrial expansion of the US?
Technology helped unite the world's markets and create an international supply and demand for goods, which helped industries expand globally!
What is characterized by the unregulated exchange of services and goods.?
A free market is a market where prices are determined by supply and demand. Free markets contrast with controlled markets in which prices, supply or demand id directly controlled.
Is characterized by the unregulated exchange of service and goods?
A free market is a market where prices are determined by supply and demand. Free markets contrast with controlled markets in which prices, supply or demand id directly controlled.
Demand and supply in relation to the price of insurance premiums?
Nearly all commercial transactions in fairly free markets are subject to the law of supply and demand.
What affects the wet markets?
flood, supply, demand, drought, war and flu
Does supply create demand?
Simply - YES Without some form of demand for a product there will be no necessity to supply.
How do price changes drive markets toward equilibrium?
They increase or decrease supply or demand
Where does all the buying selling supply and demand for a product take place?
markets.
Which concept is an application of natural law to the government's role in the economic lives of its citizens?
Free market based on supply Android demand
According to Adam smith the market was directed by what?
an invisible hand, which meant that the markets seem to regulate themselves and create their own equilibrium, today this is generally known as price and the law of supply and demand.
Why do competitive markets move toward equilibrium?
the process by which markets move to equilibrium is so predictable that economists sometimes refer to markets as being governed by the law of supply and demand.
