Demand is one side of the pricing equation; supply is the other side.

Name: Demand is one side of the pricing equation; supply is the other side.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This statement is true. Demand and supply are the two factors that determine the price of a product or service in the market. When demand for a product is high and supply is low, the price will increase. Conversely, when demand is low and supply is high, the price will decrease.

Demand Is One Side of the Pricing Equation; Supply Is