Question

Supply and demand are powerful forces in a free market . In four to five sentences, explain some of the factors that cause shift in supply and demand and what the effects of these shift are .

Answer : Demand is the quantify of products and services as desired by the buyers who are the consumers. This is the amount of the products which people are capable and willing to buy at a certain affordable price while supply is the representation of what or how much a market can offer .

Answer 1

ANSWER!!!!

Shifts in supply and demand occur when the amount of goods available increases or decreases, or when the demand for a particular good increases or decreases. Shifts in supply can happen when consumers change their spending habits, when competitors produce similar goods, or when the availability of labor or resources changes. Shifts in demand occur when the price changes or when the number of people trying to buy the good changes. It can also happen when people's tastes change.

Answer 2

Supply and demand always change. If the demand in an object goes down, the supply will as well due to the fact that if no one wants an object, than who is going to buy it? If the demand goes up than so will the supply, because if more people want an object than the more people will need to supply it to keep it in stock.