CONCLUSION:

This paper has analyzed supply and demand in a single market. Supply and demand are such

pervasive economic phenomena, the model of supply and demand it's a powerful tool for

analysis. Markets are usually a good way to organize an economic activity although it is still too

early to judge whether market outcomes are good or bad.

Market economy harness the forces of supply and demand to serve that end. Supply and

demand together determine the prices of the economy's different goods and services. If a person

had never seen a market economy in action, the whole idea might seem preposterous. Economies

are enormous group of people engaged in a multitude of interdependent activities.

Finally, price is determined who produces it's good and how much are produced. Because we

need the food to survive, it is crucial, but some people work on farms.

BIBLIOGRAPHY:

1. Dubas. J. Texas Lutheran University. “The Demand Curve: The Relationship between

Price and Quantity Demanded,” The Market Forces of Supply and Demand, page 67.

2. Beveridge. T. Durham Technical Community College “Market Demand versus Individual

Demand,” The Market Forces of Supply and Demand, page 68.

3. Dolar. V. Cleveland State University “Two Ways to Reduce the Quantity of Smoking

Demanded,” The Market Forces of Supply and Demand, page 71.

4. Nishimura. M. University of Colorado “The Supply Curve: The Relationship between

Price and Quantity Supplied,” The Market Forces of Supply and Demand, page 73.