Write a Reflective essay about the importance of supply and demand in market equilibrium.
[ANSWER]
It is important tohaveasupply and demand have an relationship because together they determine the prices and quantities of most goods and services available in a given market. At the equilibrium point, the market price for a given good ensures that the quantity of goods supplied is equal to the number of goods demanded.The equilibrium price. Once the market reaches its equilibrium, all buyers and sellers are satisfied and there is no upward or downward pressure on the price.
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QUESTION ❓
Write a Reflective essay about the importance of supply and demand in market equilibrium.
[ANSWER]
It is important to have a supply and demand have an relationship because together they determine the prices and quantities of most goods and services available in a given market. At the equilibrium point, the market price for a given good ensures that the quantity of goods supplied is equal to the number of goods demanded.The equilibrium price. Once the market reaches its equilibrium, all buyers and sellers are satisfied and there is no upward or downward pressure on the price.
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