Supply and Demand
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- Supply and Demand
- Hello guys, good morning, today's class will see the supply and demand.
- Instead, demand is the product or service that people want to purchase.
- Supply and demand are two most important concepts. The offer is the quantity of goods and services with established prices.
- An example of this topic. It is the supply and demand of the antibacterial gel. Since the pandemic began, the demand for antibacterial gel has increased, exceeding supply, since factories were not able to produce more this product and there was a shortage.
- Before the covid-19 pandemic, the supply exceeded the demand, because there was no need to purchase the antibacterial gel and therefore the price was lower since there was a large quantity available in the market and in pharmacies.
- Also the supply and demand has an importance in the economy, since it determines the equilibrium in the markets and the amount of products that must be manufactured that determines the sale price.
- It is a very broad interesting topic. I hope you have learned this concept of supply and demand, see you guys tomorrow.
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