Trending Post
All Time Post
All Time Post
-
-
- What are the best books to start learning about fi...
- 10 Most Common Things everybody should know about ...
- India's Top 10 Financial institutions/Banks in 2023
- Benefits Of Credit Cards
- All About Credit Card ! Must to know
- How Does Billing Your Credit Card ?
- The Hidden Charges on credit card and Waive off Te...
- How To Apply For A Credit Card ?
- Common Mistakes Between Closure and Blocking of Cr...
- How to Build & Maintain Your CIBIL Score ?
- Advantage And Disadvantage of Credit Card
- Credit card to bank account money transfer
- Credit Card Bill Payment and Offers
- Credit Card Application Online & Status?
- Understanding the Different Types of Credit Cards
- What is Auto-Debit or NACH ?
- How to Stop Auto-Debit or Enable Auto-Debit From Y...
- Top 11 Tips for Finance Management
- Does depreciation represent a loss in value for fi...
- Does book value accurately reflect share value?
- How can a company with a positive net income and n...
- How does a company's shareholders' equity reflect ...
- Common Mistakes Done by Credit Card Holder
- What are Different Types of Investment and Tips
- "The Basics of Personal Finance - A Beginner's Guide"
- What are the benefits and loss to invest in mutual...
- 30 Days to Financial Freedom: A Step-by-Step Guide
- The Ultimate Guide to Achieving Financial Independ...
- How Ethereum transactions increased by A huge 338%?
- 10 Habits of Successful Investors
- How to save money while studying in School Or Univ...
- Different Types of Finance .
- How to sustain in a competitive market as a busine...
- Step by step process to setup a business or startu...
- How can I earn 1k a day without any investment?
- How to manage a family with many members?
- different types of loan with examples
- Different types of loan structures
- Types of loans for business
- Explaining the Theory of Comparative Advantage
- The Impact of Inflation on the Economy
- The Role of Government in a Mixed Economy
- The Economic Benefits of International Trade
- The Pros and Cons of Free Trade Agreements
- Explaining the Supply and Demand Curve
-
-
- Get link
- Other Apps
Explaining the Supply and Demand Curve
The supply and demand curve is a graphical representation of how the quantity of a good or service supplied by sellers and the quantity demanded by buyers interact to determine the price in a market. The demand curve is a graph that shows the relationship between the price of a good or service and the quantity demanded by consumers. The supply curve is a graph that shows the relationship between the price of a good or service and the quantity supplied by producers. The point where the demand and supply curves intersect is known as the equilibrium point and represents the market price and quantity. When the price is above the equilibrium point, there is a surplus of goods, and when the price is below the equilibrium point, there is a shortage of goods.
here are a few examples of how the supply and demand curve can be applied to real-world situations:
The price of oil: The demand for oil is relatively inelastic, meaning that consumers will continue to purchase oil even if the price increases. As the price of oil rises, suppliers will increase the amount of oil they produce, leading to an upward sloping supply curve. When the price is high, the quantity supplied is high, and the quantity demanded is also high. The point at which the supply and demand curves intersect is the equilibrium price and quantity of oil.
The price of organic food: The demand for organic food is relatively elastic, meaning that consumers are sensitive to changes in price. As the price of organic food increases, the quantity demanded decreases. Meanwhile, as the price of organic food increases, the quantity supplied by producers also decreases. The point at which the supply and demand curves intersect is the equilibrium price and quantity of organic food.
The price of concert tickets: The demand for concert tickets is highly elastic, as there are many substitutes for live music entertainment. As the price of concert tickets increases, the quantity demanded decreases sharply. Meanwhile, as the price of concert tickets increases, the quantity supplied by the concert promoter may increase. The point at which the supply and demand curves intersect is the equilibrium price and quantity of concert tickets.
- Get link
- Other Apps
Most Viewed
30 Days to Financial Freedom: A Step-by-Step Guide
- Get link
- Other Apps
Step by step process to setup a business or startups !
- Get link
- Other Apps
The Role of Government in a Mixed Economy
- Get link
- Other Apps
The Economic Benefits of International Trade
- Get link
- Other Apps
The Relationship Between Interest Rates and the Economy
- Get link
- Other Apps
How to save money while studying in School Or University?
- Get link
- Other Apps
How can I earn 1k a day without any investment?
- Get link
- Other Apps
The Ultimate Guide to Achieving Financial Independency
- Get link
- Other Apps
Comments
Post a Comment