demand and supply

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Economics

• Laws of Supply and Demand
• Demand A Demand refers to quantity of need for
  product by consumers. In other words Demand
  refers to how much of a product or service is
  desired by buyers.

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Supply

• Supply represents how much the market can offer.
  The quantity supplied refers to the amount of a
  certain good producers are willing to supply when
  receiving a certain price.

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Relationship between supply and demand

• The supply and demand have a positive
  relationship i.e. when the demand increases ,
  then the supply also increases to fulfill those
  demand.

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The Law of Demand

• According to the Law of Demand , When the price
  of a Commodity increases , the demand of that
  particular commodity starts decreasing. since
  there is a negative relationship between price
  and demand in law of demand.

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The Curve of law of Demand
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The Law of Supply

• According to Law of Supply, there is a positive
  relationship between Demand and supply i.e. When
  the demand of a commodity increases , then the
  supply of that particular commodity also
  increases.

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The Curve of Law of Supply
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Equilibrium

• Equilibrium is a point of balance between supply
  and demand where all the supply demand is meet at
  a equilibrium point on a curve of Equilibrium. In
  other words , when the supply and demand is equal
  the economy is at equilibrium. At this point the
  efficiency of demand and supply is at its at most
  level of customer satisfaction.

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Curve of the Equilibrium
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conomics/economics3.asp