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:
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...