134k views
0 votes
Explain the relationship between supply, demand and price.

User SourabhKus
by
7.9k points

1 Answer

6 votes
Demand refers to how much (quantity) of a product or service is desired by buyers
Supply represents how much the market can offer
User Sam Bates
by
7.7k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.