What is the supply demand

1.	What is the supply demand
Answer» \tThe market is governed by the law of demand. First, let us define what we mean by demand in terms of the market:\tDemand for commodity implies (i) the desire to acquire it, (ii) willingness to pay for it, (iii) ability to pay for it. The Law of demand states that:\tThe relationship between Price and quantity demanded is an economic law. The quantity of a good demanded per period relates inversely to its price, other things constant.

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