By On Apr 11, 2019 Free Resume
The relationship between demand and supply underlie the forces behind the allocation of resources. In market economy theories, demand and supply theory will allocate resources in the most efficient way possible. How? Let us take a closer look at the law of demand and the law of supply.
The development of new markets in the technology industry also resembles perfect competition to a certain degree. For example, there was a proliferation of sites offering similar services during the early days of social media networks.
Imagine that a special edition CD of your favorite band is released for $20. Because the record companys previous analysis showed that consumers will not demand CDs at a price higher than $20, only ten CDs were released because the opportunity cost is too high for suppliers to produce more. If, however, the ten CDs are demanded by 20 people, the price will subsequently rise because, according to the demand relationship, as demand increases, so does the price
70 out of 100 based on 522 user ratings
227 Facebook Shares
116 Twitter tweet
307 Pinterest Pins
141 Google+ Shares
133 Thumblr Shares
58 Linkdkn Shares
© 2011 - 2019 Reachforyou.org. All rights reserved.