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The Influence of Supply and Demand on Price

Supply and Demand

Supply and Demand

The price P of a product is determined by a balance between production at each price (supply S) and the desires of those with purchasing power at each price (demand D). The diagram shows a positive shift in demand from D1 to D2, resulting in an increase in price (P) and quantity sold (Q) of the product.

Source

    Boundless vets and curates high-quality, openly licensed content from around the Internet. This particular resource used the following sources:

    "Supply and demand."
    http://en.wikipedia.org/wiki/Supply_and_demand Wikipedia GNU FDL.

Related Terms

  • equilibrium price
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