How do supply and demand work together to influence the price of a product?

A. Buyers create high demand for products with a large supply, which causes the products' prices to drop.

B. Sellers create large supplies of products to keep prices low, while consumers lower demand to increase prices.

C. Sellers supply a certain amount of a product based on how much demand they believe it will have at a particular price.

D. Buyers set the supply of a good by purchasing it at a specific price, which creates demand among sellers to decrease the price.

Question

Santirodriguez2007idn Santirodriguez2007idn

04-07-2024
Social Studies

Answered

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How do supply and demand work together to influence the price of a product?

A. Buyers create high demand for products with a large supply, which causes the products' prices to drop.

B. Sellers create large supplies of products to keep prices low, while consumers lower demand to increase prices.

C. Sellers supply a certain amount of a product based on how much demand they believe it will have at a particular price.

D. Buyers set the supply of a good by purchasing it at a specific price, which creates demand among sellers to decrease the price.

Sagot :

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GinnyAnsweridn GinnyAnsweridn · Answer 1 · 2024-07-04T12:35:28-04:00

Final answer:

Supply and demand impact product prices by determining economic equilibrium.

Explanation:

Supply and demand interact to influence the price of a product in the market. When demand exceeds supply, prices tend to rise, and when supply exceeds demand, prices tend to fall. This interplay establishes the economic equilibrium where quantity demanded equals quantity supplied.

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