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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