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What is Supply and Demand: For Other Uses, See about?

Supply and demand is an economic model of price determination in a market. Diagram shows a positive shift in demand from D1 to D2, resulting in an increase in price (P) and quantity sold (Q) of the product. It concludes that in a competitive market, price will function to equalize the quantity demanded by consumers, and the quantity supplied by producers.

Author

CDanielle Arejola

Language

EN