Answered

Get the answers you need at Westonci.ca, where our expert community is dedicated to providing you with accurate information. Our platform offers a seamless experience for finding reliable answers from a network of experienced professionals. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.


1. demand can be said to control supply and demand.
(Consumer, Producer)

Sagot :

psjrealwife12

Answer:

The law of demand says that at higher prices, buyers will demand less of an economic good. The law of supply says that at higher prices, sellers will supply more of an economic good. These two laws interact to determine the actual market prices and volume of goods that are traded on a market.

Supply is generally considered to slope upward: as the price rises, suppliers are willing to produce more. Demand is generally considered to slope downward: at higher prices, consumers buy less. ... The relationship between the supply and demand for a good (or service) and changes in price is called elasticity.

Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.