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15 August, 09:41

What does the term "demand relationship" mean? How does price affect demand?

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  1. 15 August, 11:05
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    Demand refers to how much (quantity) of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand relationship. Supply represents how much the market can offer.
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