Supply and Demand

Supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, price will function to equalize the quantity demanded by consumers, and the quantity supplied by producers, resulting in an economic equilibrium of price and quantity. (CC Wikipedia 04/14/2010)

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This entry is on Wednesday, April 14th, 2010 at 8:46 pm and is filed under Economical Concepts. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.