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How would you explain supply and demand to a friend who had never heard of the concept?

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Step-by-step explanation:

demand is the quantity of a good or service a person is willing and able to buy per their interest and income or other factors at various prices in a given period of time.

supply is the amount of a particular product that a firm or seller is willing and able to offer for sale considering factors like price , cost of production, customer preference etc at a give period of time

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