what is the meaning of the supply demand
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Demand refers to how much (quantity) of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as thedemand relationship. Supplyrepresents how much the market can offer.
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here is yor anser.
Demand refers to how much (quantity) of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as thedemand relationship. Supplyrepresents how much the market can offer.
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siddhant51:
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Hey,
Thanks for asking this question.
Supply is the amount of product available to the consumer in the market.
Demand is the amount of product desired by the consumer at certain price.
The relationship between supply and demand determines the price of the commodity.
The higher is the price, the lower will be the demand, and demand-price slope will be downwards.
The higher is the price, the higher will be supply, so that more revenue is generated, and the supply-price slope will be upwards.
Hope this answer helps.
Thanks for asking this question.
Supply is the amount of product available to the consumer in the market.
Demand is the amount of product desired by the consumer at certain price.
The relationship between supply and demand determines the price of the commodity.
The higher is the price, the lower will be the demand, and demand-price slope will be downwards.
The higher is the price, the higher will be supply, so that more revenue is generated, and the supply-price slope will be upwards.
Hope this answer helps.
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