122k views
0 votes
17

Supply is the willingness and ability of buyers to purchase a product or service; demand is the willingness and ability of producers to offer a good or
service for sale.
A True
OB. False

User SudarP
by
8.0k points

1 Answer

4 votes

Final answer:

Supply is the willingness and ability of buyers to purchase a product or service, while demand is the willingness and ability of producers to offer a good or service for sale.


Step-by-step explanation:

The statement in question is true. Supply refers to the willingness and ability of buyers to purchase a product or service, while demand refers to the willingness and ability of producers to offer a good or service for sale. The concept of supply and demand is an important principle in economics, where it helps determine the equilibrium price and quantity of a good or service. For example, when the supply of a product exceeds the demand, the price typically decreases, and vice versa.


Learn more about Supply and Demand

User SeattleOrBayArea
by
8.2k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.