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27 June, 19:46

What is supply and demand and how does it affect businesses?

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  1. 27 June, 20:17
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    Supply is the amount of a product that exists to sell while demand is how much that product is wanted by consumers. High supply and high demand means that there's a potential for a lot of profit, but at the same time, high supply also lessens the need for demand over time. High demand is what you want for max profit, and most companies achieve this by lowering the supply.
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