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What are the economic principles involved in supply and demand?

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What are the economic principles involved in supply and demand?
posted Jul 12, 2017 by Mukul Chag

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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 the demand relationship. Supply represents how much the market can offer.

answer Jul 13, 2017 by Ramesh Gowda
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