Asked by
Danika Guirit
on Oct 12, 2024
Verified
Price is determined
A) mainly by demand.
B) mainly by supply.
C) equally by demand and supply.
D) by neither supply nor demand.
Demand and Supply
Demand and Supply are fundamental economic concepts representing the desire and ability to purchase goods and services and the amount of goods and services available for sale, respectively.
- Understand the relationship between supply and market prices.
Verified Answer
MG
Learning Objectives
- Understand the relationship between supply and market prices.