explain the terms demand and supply with an example from our daily life
Answers
Answered by
2
Answer: Supply and demand is one of the most basic and fundamental concepts of economics and of a market economy. The relationship between supply and demand results in many decisions such as the price of an item and how many will be produced in order to allocate resources in the most cost-effective and efficient way.
Answered by
2
Answer:
deamand means a strong request or order that must be obeyed.
and supply means to give or provide something
Explanation:
there example from our daily life are:::
ii. There is a huge demand of class 10 book in 2020.
iii. Ram demand piano for his birthday gift.
2.Supply
i. The farmer supplies eggs to the surrounding villages.
ii. Today there is a huge supply of food because of flodes
Similar questions