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The relationship between the quantity of a commodity that producers wish to sell at various prices and the quantity that consumers wish to buy

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Whats up

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Producers sell more when prices are high and consumers buy less when prices are high

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the law of demand is when the price goes up, the quantity demanded goes down and when the price goes down, the quantity demanded goes up

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Demand is the desire to have some good or service and the ability to pay for it.

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supply is the ability of producer to offer goods and services while demant relies on consumers ability to purchase goods and services.

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supply is the ability of producer to offer goods and services while demant relies on consumers ability to purchase goods and services.

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Law of demand has an inverse relationship while supply in directly proportional

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Consumer expectation is the future expectations about the product.(Whether the price will go up or down)

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the law of demand states that when a price of a good or service falls, consumers buy more of it As the price of goods increase, consumers usually buy less 

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the law of demand states that when a price of a good or service falls, consumers buy more of it As the price of goods increase, consumers usually buy less 

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demand is elastic when the change in quantity demanded is larger, inelastic when it is smaller

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demand is elastic when the change in quantity demanded is larger, inelastic when it is smaller

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demand is a desire to have something, Supply is something available to someone.

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Things that people need to survive are inelastic, meaning the quantity demand only goes though a small change

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producers sell more when prices are high consumers might not buy when prices are high so producers might low prices so more people buy things

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producers sell more when prices are high consumers might not buy when prices are high so producers might low prices so more people buy things

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price is determined by the relationship

between supply and demand.

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Elasticity of demand is a measure of how responsive consumers are to price changes.

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Elasticity of demand is a measure of how responsive consumers are to price changes.

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A supply curve is a graph that shows how much of a good or service an individual producer will offer for sale at each price.

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If there is a substitute for a good or service demand it is inelastic. If substitutes are available then demand is elastic.

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The Substitution Effect is the pattern of behavior that occurs when consumers react to an increase in price of a good by buying a substitute product.