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Mkey [24]
3 years ago
12

Why is Supply and Demand a very important concept to microeconomics please state your reasons and why?

Social Studies
1 answer:
puteri [66]3 years ago
8 0

Answer:

Supply and demand are both important for the economy because they impact the prices of consumer goods and services within an economy. According to market economy theory, the relationship between supply and demand balances out at a point in the future; this point is called the equilibrium price.

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