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Sagot :
Answer:
Demand and supply are important tools for formulating an economy. The major role is played by demand and supply function in an economy. Demand and supply of a product decides the price for it.
Explanation:
Demand and Supply of a product is set in order to achieve equilibrium in an economy. If demand for a product is higher than its supply then it will create burden on its price and prices for the product will increase. If the supply for a product is high and demand is low then the prices will decline as customer will have sufficient supply to buy from and they will buy at lowest possible price.
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