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if the supply is low and the demand is high, then the price of the good will be high. if there is high supply but low demand, then the price will be low. the price of a good or service is determined by the relationship between supply and demand. look for any basic macro or micro economics books and it should give you a very good explanation on the subject also pay attention to the graphs of supply and demand and you will get a better understanding of the relationship between supply and demand.
Wiki User
∙ 12y ago
Wiki User
∙ 11y agoThe relationship between these things is that supply and demand work together to determine the price of a good or service.
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What is the difference between the supply and the supply curve?
Supply is the quantities of commodities in a producer willing and able to offer for sale for a particular period of time while supply curve is the use of graphical method to show the relationship between the price and the quantity supply.
Difference between demand and supply of money?
The supply side deals with relationship between the price and the quantity. The demand side deals with the volumes that buyers are willing to purchase at various prices
What is the difference between administered prices and market prices?
administered price means price set by a body outside of the market..And market price is a price set up on basis of demand and supply.
Difference between change in supply and change in quantity supply?
no
What is difference between individual supply curve and market supply curve?
The difference between individual supply curve and the market supply curve is tat individual supply curve is like a firm. To be able to get the market supply curve you have to have the individual supply curve.
Quota rent refers to?
Its the difference between the demand price and the supply price at the quota limit .
What is the difference between the supply and the supply curve?
Supply is the quantities of commodities in a producer willing and able to offer for sale for a particular period of time while supply curve is the use of graphical method to show the relationship between the price and the quantity supply.
Difference between demand and supply of money?
The supply side deals with relationship between the price and the quantity. The demand side deals with the volumes that buyers are willing to purchase at various prices
What is the difference between administered prices and market prices?
administered price means price set by a body outside of the market..And market price is a price set up on basis of demand and supply.
What is the difference between basics and taste the difference?
Other than the taste and the price the company who supply basics to Sainsbury's is not the same as the one who supplies taste the difference. Hope this helps.
Difference between change in supply and change in quantity supply?
no
What is the difference between supply and quantity supplied?
Supply is the amount of a product offered for sale at all possible prices that can succeed in a market; while quantity supplied is the amount that producers are willing and able to supply are a certain price.
What is the Difference between supply voltage and input voltage?
no difference...
What is difference between individual supply curve and market supply curve?
The difference between individual supply curve and the market supply curve is tat individual supply curve is like a firm. To be able to get the market supply curve you have to have the individual supply curve.
What is the role that various inducements other than price might play in affecting demand and supply in the market?
the quality makes the difference between companies
What is difference between change in supply and change in quantity supplied?
a change in supply is the shift in supply curve due to change in price of other commodities and other factors like taste,weather,income e.t.c while a change in quantity supply is the change in price of the commodity itself that affect the quantity supply,here the supply curve remain constant but there will be a movement along the supply curve.
What is difference between provide and supply?
in business
