Competition among suppliers tends to drive prices _; competition among buyers tends to drive prices .

Social Studies

1 answer:

Furkat [3]1 year ago

6 0

Competition among suppliers tends to drive prices down; competition among buyers tends to drive prices up.

<h3>How prices are determined in the market?</h3>

Price is one that tends to be dependent on the association that exist between demand and supply parts of a market.

Note that the Demand and supply stands for the willingness of customers and producers to be involved in buying and selling.

Therefore, Competition among suppliers tends to drive prices down; competition among buyers tends to drive prices up.

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Competition among suppliers tends to drive prices _______; competition among buyers tends to drive prices ______ .

Competition among suppliers tends to drive prices _; competition among buyers tends to drive prices .