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Economics

Supply & Demand: How Do Markets Determine Price?

OVERVIEW

The concept of supply and demand is often called the heart and soul of economics. Understanding how supply and demand affect the economy helps us recognize economics everywhere in our daily lives. This infographic highlights basic concepts such as the laws of supply and demand, changes in demand and supply versus changes in the quantity demanded and the quantity supplied, the determinants of demand and supply, and market equilibrium.

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