What are the crucial decisions involving ‘what is produced?’
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Production of items takes place on the basis of utility by people residing at that particular place.
Both demand and supply are some of the vital factors regarding the fact that must be produced.
If the item comprises of high demand but short supply, it may lead towards high price and vice versa.
On the other hand, if there is high supply but low demand, it may lead towards high loss for the manufacturer.
Both demand and supply are some of the vital factors regarding the fact that must be produced.
If the item comprises of high demand but short supply, it may lead towards high price and vice versa.
On the other hand, if there is high supply but low demand, it may lead towards high loss for the manufacturer.
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