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| Topic: |
Business
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| Number of pages / Number of words: |
4 / 1061 |
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It is depicted as an inverse relation of quantity and price. The higher the prices of a good, the less people want or demand the good. The lower the price, the more the good is in demand. The demand relationship shows the curve is a downward slope.
Factors that lead to Change in Supply and Demand
Individual factors that may change the demand curve are price, information, income, and price of related goods...
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The demand relationship shows the curve is a downward slope.
Factors that lead to Change in Supply and Demand
Individual factors that may change the demand curve are price, information, income, and price of related goods. The market demand would apply to everyone and what everyone demands. Factors that change the supply curve include laborer wages, operating prices, supply costs, the cost of land, and production technology...
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