PRICE DETERMINATION IN A COMPETITIVE MARKET:
The Determinants of the Demand for Goods and Services
'Price Determination in a Competitive Market' Section Next Topic
What you need to know...- The factors which determine the supply of a good or service.
- A supply curve shows the relationship between price and quantity supplied. - Understand higher prices imply higher profits and that this will provide the incentive to expand production. - The causes of shifts in the supply curve. |
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