Josef

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An Introduction to Supply and Demand

Posted by Josef on 5/11/18 4:54 PM

What is supply and demand?

In economics, supply and demand is the relationship between the quantity of a commodity that producers wish to sell at various prices and the quantity that consumers wish to buy.  Though it is a seemingly straightforward relationship, in practical application it can become quite complicated.  In this blog, we will use an example to illustrate the basic relationship between supply and demand

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Tags: economics