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Concept of Demand Supply and its application in Economics

Supply-demand analysis is the backbone of the market economy and perhaps the most fundamental basics of economics. Demand means how much quality required by the consumer and Supply means what the market can offer. In market economy theories, demand and supply theory will allocate resources in the most efficient way possible.

There are various demand and supply law which provides a better insight in understanding the concept of demand and supply. Definition of Law of Demand in simple terms is higher is the price and lower is the demand. Similarly, Law of Supply also demonstrates the quantities that will be sold at a certain price. According to this law, the manufacturer gives high supply at the higher price in order to increase the revenue. You can learn more concepts about supply and demand using the right economics forum and resources on the internet.

There is many other sub-concepts of demand-supply analysis, such as Supply and Demand relationship, Equilibrium, Excess supply, Excess demand, Shifts, and Movements. Tutors working with us belongs to the various financial backgrounds and understand practical aspects of these topics. We are capable enough to assist you with the assignments on demand and supply analysis. We can assist you with various other economics assignments as well:

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