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Demand, Supply, and the Market
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"Society has to find some way to decide what, how and for whom to produce. Modern economies rely heavily on markets and prices to allocate resources between competing uses. Th e interplay of demand (the behaviour of buyers) and supply (the behaviour of sellers) determines the quantity of the good produced and the price at which it is bought and sold."

From: Economics
by David Begg and Stanley Fischer

Copyright David L Heiserman
All rights reserved