Question

1. What are the things you learned from the discussion about knowing the factors affecting demand and supply? How can you apply
these learnings in your real-life activities?​

Answer 1

these apply play cricket

Answer 2

I learnt the following factors affect demand and supply

1. Price
2. Weather
3. Commercial Advertising
4. Competition
5. Income

My application of these factors in  real-life activities is that

• I would do my purchasing when prices are low, the weather is suitable, and I have a good income.
• I would not fall prey to commercial advertising, but only use it to give me ideas of the products and pricing in the markets.