Hot Student Stories
top-5-grammar-and-spelling-checkers-to-rock-in-2019

In 1 or 2 sentences, explain how consumers affect which goods and services are produced. WRITER

Daniel King

in Business

follow
followin
1 answer
9 views

1 answer


Ross Pratt on November 24, 2018

Response;Based on Supply and demand; If more people want a commodity, is the most in demand, therefore the price will be higher, and less if the people want an merchandise, the price will be lower.Explanation;In a market, the price is determined by the law of supply and demand in that particular market. Demand is the quantity of goods that consumers are willing and able to buy at a given price, while the supply is the quantity supplied by suppliers at a given price. If more people want a commodity, is the most in demand, therefore the price will be higher, and less if the people want an merchandise, the price will be lower.


Add you answer