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True or False: Sellers set the demand for a product, while the buyers set the supply.

A. True
B. False

Sagot :

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Final answer:

Sellers set the supply, buyers set the demand in a market.


Explanation:

False. In the market, sellers set the supply while buyers set the demand. Sellers determine the quantity of goods or services they are willing to produce and sell, based on factors like cost, profit, and market conditions, thus influencing supply. On the other hand, buyers influence demand by deciding how much of a product they are willing to purchase at various price levels.


Learn more about Market Dynamics here:

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B. False

In economics, sellers do not set the demand for a product. Demand is typically understood as the quantity of a good or service that buyers are willing and able to purchase at various prices. Sellers, on the other hand, set the supply of a product, which refers to the quantity of a good or service that producers are willing and able to sell at various prices. Therefore, the correct relationship is that buyers (consumers) determine demand, while sellers (producers) determine supply.
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