Question

When we combine the actions of producers and suppliers, we put the supply and demand curves on the same graph. Identify the demand curve and the supply curve. demand curve supply curve

Answer 1

The relationship between demand and supply is inverse because the less supply there is of a product or service, the value increases and therefore the demand tends to decrease.

What is demand and supply?

Demand and supply are economic terms that refer to the basic dynamics of the economy. In general, the term demand refers to the goods or services that a person or group requires.

On the other hand, the offer is the amount of products offered by the producers of products, goods or services.

According to the above, these two variables are related because when there is greater demand for a good, this moves producers to offer more of that product. It can also happen that there are few products offered and this raises the price of those products.

In general, it can be stated that the relationship between the value of a good or service and supply and demand depends on various factors such as production costs and trends.

Learn more about demand and supply in: brainly.com/question/14496564

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