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amid [387]
3 years ago
8

How do supply and demands work together to influence the price of a product​

History
2 answers:
Leno4ka [110]3 years ago
5 0
Supply is how much there is of a product. Demand is how much the product is wanted or needed by consumers. When supply is low, & demand for the product is high, it forces the price to go up.
evablogger [386]3 years ago
5 0

Answer:

Explanation:

It's a fundamental economic principle that when supply exceeds demand for a good or service, prices fall.  If there is an increase in supply for goods and services while demand remains the same, prices tend to fall to a lower equilibrium price and a higher equilibrium quantity of goods and services.

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