Business Studies, asked by duvendramarko8217, 10 months ago

How does ‘demand’ affect the price of a product?

Answers

Answered by heemani
4

Answer:

The price of a product is determined by both demand and supply. The price will increase if the demand for a good goes up as the good becomes short in supply due to increased demand. Similarly, if the demand is decreased, its availability becomes excessive in relation to the existing stock and the price goes down.

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Answered by prince123666
0

Answer:

The price of a product is determined by both demand and supply. The price will increase if the demand for a good goes up as the good becomes short in supply due to increased demand. Similarly, if the demand is decreased, its availability becomes excessive in relation to the existing stock and the price goes down.

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