1. How does the law of supply and

demand work?

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History

Baldwin

3 September, 00:23

1. How does the law of supply and

demand work?

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Answers (1)

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Malcolm York · Answer 1

The law of demand says that at higher prices, buyers will demand less of an economic good. The law of supply says that at higher prices, sellers will supply more of an economic good. These two laws interact to determine the actual market prices and volume of goods that are traded on a market.

1. How does the law of supply anddemand work?

1. How does the law of supply and

demand work?