ميين کډوال (ناول)

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What is supply and demand in economics?
Supply and demand are fundamental issues in the economy that can cause profound changes in the entire economy. Supply and demand, especially in a market economy, are inextricably linked. Supply is the supply of an item for sale against demand.

which is needed at a certain time and at a certain price. In general, the supply of goods is the amount of goods that are offered to the market at a certain time with possible prices for the purpose of demand, which is called the total supply or the schedule supply. The law of supply and demand states that price varies directly, inversely with demand, and inversely with supply.

Elasticity of supply: If the quantity supplied of a commodity (with a change in its price) changes intentionally, i.e. if the price increases, the supply increases and if the price in the market increases or decreases as the price decreases, So it is said that the supply is elastic. But if the supply quantity does not change quickly with the price difference, then the supply is called (inelastic); For example: Flour, the rise and fall of the price does not make a big difference in the amount of supply. That is, if the price increases, then more of it will be sent to the selling market, and if the price decreases, then less amount will be sent to the selling market. The supply of raw materials and agricultural products is not so sensitive and needs more time to adjust.

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