explain why we need to study market supply
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explain why we need to study market supply
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Answer:
Why is a basic knowledge of demand and supply important?
Supply and demand have an important relationship because together they determine the prices and quantities of most goods and services available in a given market. According to the principles of a market economy, the relationship between supply and demand balances out at a point in the future
Explanation:
And if you're also asking:
What is the important concept of market supply?
Market supply is the total amount of an item producers are willing and able to sell at different prices, over a given period of time e.g. one month. Industry, a market supply curve is the horizontal summation of all each individual firm's supply curves
What is supply in marketing?
Supply is the amount of product that a company can provide to customers at a specific price. Demand is the customer's desire to purchase the product at that price. Supply and demand work together to create a balanced and competitive market.
Hope it helps :)
Supply and demand are two together solutions to understanding the saving cause they indicate the prices and quantities of items bought by consumers and duties inside an frugality. According to display frugality belief, the friendship middle from two points supply and demand balances out at a point from now on; this point is named the balance price.
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