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What Is Demand
Beginning of essay
The official definition of demand is as such: Demand is the relationship between price and quantity demanded for a particular good and service in particular circumstances. For each price the demand relationship tells the quantity the buyers want to buy at that corresponding price. The quantity th ....
Middle of essay
.... complements also tend to influence the quantity of a bought product. Substitutes tend to satisfy a set of goals or preferences for a set of people. Price will affect the quantity bought for substitutes in the long run. People buy what is within their means. Complements when priced low enough sometimes may increase the consumption of the product that they complement.
Other factors that may influence the direction of the market include the number of consumers in the market and their expect.... |
| Number of words: 508 |
Approximate pages: 2 |
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