Basic concept of demand and supply
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•BASIC INFO::----
•Supply and demand is perhaps one of the most fundamental concepts of economics and it is the backbone of a market economy.
•Demand refers to how much (quantity) of a product or service is desired by buyers.
The Theory of Demand and Supply is a central concept in the understanding of the Economic system and its function.
• The quantity demanded of a good or service is the amount that consumers plan to buy during a particular time period, and at a particular price
REGARDS
•Supply and demand is perhaps one of the most fundamental concepts of economics and it is the backbone of a market economy.
•Demand refers to how much (quantity) of a product or service is desired by buyers.
The Theory of Demand and Supply is a central concept in the understanding of the Economic system and its function.
• The quantity demanded of a good or service is the amount that consumers plan to buy during a particular time period, and at a particular price
REGARDS
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