The forces underlying supply and demand interact to determine the market price.
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Explanation:</u></h3>
The persons involving in the activities of trading comprises the market system. It includes sellers, buyers and others involved in trading process. They also includes the buyers, consumers, producers who are the major players of the market system who determines the economic activity in it.
The supply and demand law is the major determinant of the production of goods and services in a market economy. The natural resources, land, capital and labor are the supplies. The purchasing power of the government, consumers and business are the demands. The forces underlying supply and demand interact to determine the market price.
When a country can produce a product more cheaply than its trading partners, it is known as: <span>comparative advantage
For example, United States often imported exotic fruits from Brazil. Since Brazil is a tropical country, the cost in producing exotic fruits will be significantly lower compared to growing it in the United States. Therefore, we can say that brazil has a comparative advantage in this product compared to united states.</span>
After being recently promoted as a project manager for a new project with a new team, Suzanna must develop trust and establish the work rules by the way of interacting personally with her new team members.
<h3>Who is a project manager?</h3>
A person who is engaged or involved in planning, allocating and finishing a project for an organization, which is a part of the organizational goals, such a person is known as a project manager.
Hence, the significance of a project manager is aforementioned.
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The individuals or households that want goods and services for personal consumption or use, and have the resources to buy them are part of the consumers
<h3>Who are the consumers?</h3>
Consumers are known as the end users of any produced goods and services. They are crucial in the logistics chain in order to keep production running.
They are the set of individuals that want goods and services for their daily use and consumption purposes.
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