Economics

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Title: Economics

Essay Details:

Subject: Business

Author: Victoria D

Date: May 14, 2012

Level: University

Grade: A

Length: 3 / 751

Essay text:

This practice traces patterns of supply and demand in smaller markets and helps determine cost and productivity. Supply and demand are key elements in Microeconomic and Economic study. Understanding, the fluctuations in supply and demand help in determining cost and competition in a market place. Supply is a product or service available for purchase at a certain price. The amount of a supply is dependent of how much the consumer is able to produce and at what price it is being sold. The relationship between the amount supplied and its price is referred to as the supply relationship. According to the law of supply, the higher the rate, the higher the number of productivity...

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