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Supply and Demand Learning Objectives
Supply and Demand Learning Objectives
SUPPLY AND DEMAND
Learning Objectives:
⮚ Finding the meaning and definition of vocabularies in context.
⮚ Understanding the description and definition of Supply and
Demand. ⮚ Distinguishing the differences of Supply and Demand.
The economic model that determines the price of anything in a market is
known as supply and demand. It is a term found in microeconomics, which is a
study focusing how a person or a company manages their rare resources, and it
promotes a competitive market, goods, services, or assets will change in price
until it reaches a point of certainty. This is based on how much of it is available
and how many people want it, with results in economic equilibrium, or a balanced
state of supply and demand.