Find the best solutions to your questions at Westonci.ca, the premier Q&A platform with a community of knowledgeable experts. Discover comprehensive solutions to your questions from a wide network of experts on our user-friendly platform. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform.

How do supply and demand work together to influence the price of a product?

A. Buyers set the supply of a good by purchasing it at a specific price, which creates demand among sellers to decrease the price.
B. Sellers create large supplies of products to keep prices low, while consumers lower demand to increase prices.
C. Sellers supply a certain amount of a product based on how much demand they believe it will have at a particular price.
D. Buyers create high demand for products with a large supply, which causes the products' prices to drop.


Sagot :

Final answer:

Supply and demand determine prices in the market, with competition leading to better quality and lower prices.


Explanation:

Supply and demand interact to determine the price of a product in the market. When demand exceeds supply, prices tend to rise, and when supply surpasses demand, prices tend to fall. Competition among businesses offering similar products to the same buyers also influences prices by driving better quality and lower prices.


Learn more about Supply and Demand here:

https://brainly.com/question/32830463


Thank you for your visit. We are dedicated to helping you find the information you need, whenever you need it. We appreciate your time. Please come back anytime for the latest information and answers to your questions. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.