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Demand and Supply

  • From Business, General Business
  • Due on 23 Jan, 2020 09:58:00
  • Asked On 22 Jan, 2020 01:01:38
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1.Define demand and supply

2.State four factors that affect elasticity of demand

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[Solved] Supply and Demand

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  • Submitted On 22 Jan, 2020 02:01:27
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In microeconomics, supply and demand is a monetary model of value assurance in a market. It hypothesizes that, holding all else equivalent, in a focused market, the unit cost for a specific product or service, or other traded thing, for example, work or fluid monetary resources, will shift until it settles at a point where the amount requested (at the present cost) will rise to the amount provided (at the present value), bringing about a financial balance for cost and amount executed. Some of the factors that influence the supply of a product are described as follows: i. Price Refers to the main factor that influences the supply of a product to a greater extent. Unlike demand, there is a direct relationship between the price of a product and its supply. If the price o...
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[Solved] Demand And Supply

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  • Submitted On 22 Jan, 2020 02:20:14
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1.Define demand an...
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