| Let us talk about supply and demand |
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 | Demand is the quantity of good or service that consumers are willing to at a particular price | |
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| The relationship between the price and quantity take us to the law of of demand, When consumers buy more (increase demand)as prices decrease.As prices increase , consumersbuy less (decrease demand) | |
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| Factors that can increase or decrease demand |
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| Changes in consumer income,Changing consumer tastes, Changing expectations for the future and Changes in population | |
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| Good discussion. Let us talk about supply | |
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| What is supply. law of supply and the factors afecting supply/ |
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| Supply is the quantity of a good or service that businesses are willing and able to provide within a range of prices that people would be willing to pay | |
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| when prices goes up more will supplied and when prices decrease less will be supplied that is the law of supply.These factors can increase or decrease supply. Change in the number of producers , changes in price, Change in technology ,Changing expectation for the future and Changing production costs | |
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