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Grass-fed -- a new post
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<blockquote data-quote="edrsimms" data-source="post: 697307" data-attributes="member: 10970"><p>Thses guys just don't understand the Supply/Demand curve and I guess during Macro they were either asleep or badly hungover from a late night. </p><p></p><p>Supply and Demand Curve is perhaps one of the most fundamental concepts of economics and it is the backbone of a market economy. Demand refers to how much (quantity) of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand relationship. </p><p></p><p>Supply represents how much the market can offer. The quantity supplied refers to the amount of a certain good producers are willing to supply when receiving a certain price. The correlation between price and how much of a good or service is supplied to the market is known as the supply relationship. Price, therefore, is a reflection of supply and demand. </p><p></p><p></p><p>The Law of Supply </p><p>Like the law of demand, the law of supply demonstrates the quantities that will be sold at a certain price. But unlike the law of demand, the supply relationship shows an upward slope. This means that the higher the price, the higher the quantity supplied. <strong>Producers supply more at a higher price because selling a higher quantity at a higher price increases revenue.</strong> </p><p>Any questions? Ed</p></blockquote><p></p>
[QUOTE="edrsimms, post: 697307, member: 10970"] Thses guys just don't understand the Supply/Demand curve and I guess during Macro they were either asleep or badly hungover from a late night. Supply and Demand Curve is perhaps one of the most fundamental concepts of economics and it is the backbone of a market economy. Demand refers to how much (quantity) of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand relationship. Supply represents how much the market can offer. The quantity supplied refers to the amount of a certain good producers are willing to supply when receiving a certain price. The correlation between price and how much of a good or service is supplied to the market is known as the supply relationship. Price, therefore, is a reflection of supply and demand. The Law of Supply Like the law of demand, the law of supply demonstrates the quantities that will be sold at a certain price. But unlike the law of demand, the supply relationship shows an upward slope. This means that the higher the price, the higher the quantity supplied. [b]Producers supply more at a higher price because selling a higher quantity at a higher price increases revenue.[/b] Any questions? Ed [/QUOTE]
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