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demand and supply

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demand and supply

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  1. Economics Laws of Supply and Demand: Demand : A Demand refers to quantity of need for product by consumers. In other words Demand refers to how much of a product or service is desired by buyers.

  2. Supply • Supply represents how much the market can offer. The quantity supplied refers to the amount of a certain good producers are willing to supply when receiving a certain price.

  3. Relationship between supply and demand • The supply and demand have a positive relationship i.e. when the demand increases , then the supply also increases to fulfill those demand.

  4. The Law of Demand • According to the Law of Demand , When the price of a Commodity increases , the demand of that particular commodity starts decreasing. since there is a negative relationship between price and demand in law of demand.

  5. The Curve of law of Demand

  6. The Law of Supply • According to Law of Supply, there is a positive relationship between Demand and supply i.e. When the demand of a commodity increases , then the supply of that particular commodity also increases.

  7. The Curve of Law of Supply

  8. Equilibrium • Equilibrium is a point of balance between supply and demand where all the supply demand is meet at a equilibrium point on a curve of Equilibrium. In other words , when the supply and demand is equal the economy is at equilibrium. At this point the efficiency of demand and supply is at its at most level of customer satisfaction.

  9. Curve of the Equilibrium

  10. THANK YOU For More information regarding demand and supply visit to https://www.investopedia.com/university/economics/economics3.asp

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