DISCUSSION QUESTIONS

Discussion Questions

Discussion Questions

Supply and Demand

Supply and demand is possibly one of the most basic notions of economics and it is the backbone of a market economy. Demand mentions to how much (quantity) of a merchandise or service is yearned by buyers. The amount demanded is the allowance of merchandise persons are eager to purchase at a certain price; the connection between cost and amount demanded is renowned as the demand relationship (Lentz George Maurice 1999). Supply comprises how much the market can offer. The amount supplied mentions to the allowance of a certain good manufacturers are eager to supply when ...