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Supply and Demand is a fundamental concept of Economics, which states that in a competitive market, the unit price for a certain product will vary until it settles at a point where the quantity demanded by consumers will equal the quantity supplied by producers. This is known as the equilibrium price. The demand for a product is determined by the consumer's willingness to pay for it, while the supply is determined by the producer's cost of production.
The Supply and Demand market is an important factor in the pricing of goods and services, and it affects the decisions of both consumers and producers. It is also used to analyze the effects of government policies on the economy.
Examples of companies in the Supply and Demand market include Amazon, Walmart, Apple, Microsoft, and Google. Show Less Read more