LL+ SAPLINGPLUS ACCESS MACRO 1TERM
LL+ SAPLINGPLUS ACCESS MACRO 1TERM
4th Edition
ISBN: 9781319319007
Author: KRUGMAN
Publisher: MAC LTD
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Chapter 3, Problem 3P
To determine

Concept Introduction:

Demand: The willingness of a buyer to purchase a commodity or service depending upon his purchasing power is termed as demand.

Supply: The particular amount of product available in the market at a particular price is termed as supply.

Equilibrium: When the demand of the product is equal to the supply of that particular product at the prevailing price in the market, it is termed as market equilibrium.

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