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Explain economics relating to Laws of Supply and Demand?

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posted Jul 12 by Mukul Chag

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The law of supply and demand is the theory explaining the interaction between the supply of a resource and the demand for that resource. The law of supply and demand defines the effect the availability of a particular product and the desire (or demand) for that product has on price. Generally, a low supply and a high demand increases price, and in contrast, the greater the supply and the lower the demand, the lower the price tends to fall.

answer Jul 13 by Ramesh Gowda
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