What does supply & demand mean to you?
To me supply means the amount of products that producers as entrepreneur create for the people. And demand is what the people want. What really surprised me from the quiz was the real income effect. Why you say? Well, I'm suprised of that because I didn't really know why the real income gets effected. Now I do, reason being is because you would think it would effect other things but not so much the income.
To me supply means the amount of products that producers as entrepreneur create for the people. And demand is what the people want. What really surprised me from the quiz was the real income effect. Why you say? Well, I'm suprised of that because I didn't really know why the real income gets effected. Now I do, reason being is because you would think it would effect other things but not so much the income.
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