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Essay / Research Paper Abstract
This 5 page paper looks at then influences of supply and demand and how business may use these to make decisions. Examples are used to illustrate the points raised. The bibliography cites 9 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEsupdem2.rtf
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Unformatted sample text from the term paper:
and demand theory. The decision of the amount of goods to produce of the levels of services to provide work be based on a range of information. The first
element is that of supply and demand. The supplier will base their decision on how much to produce or supply based on the expected level of demand. This is a
very basic model to begin with. Where there is a demand that exceeds supply the price of the goods will increase until there the price putts a sufficient number of
people off, and the purchase is made. When the converse is true, and the supply exceeds the demand, the price will then drop, dropping to a level where it is
able to attract sufficient customers to make the purchase attractive and create delirium between supply of the goods and demand of the goods (Nellis and Parker, 2000). This is traditionally
illustrated by the use of a chart, as shown below. The point at which the supply lines cross with be the
point of equilibrium, which is the price. The supply line may be moved when there is a change in the supply, if there is a decrease in the supply the
line will move to the left, if there is an increase in supply this will move to the right. The demand line may also move either up increasing the price
or down and decreasing the demand and as such decreasing the price. Here there are some inherent implication. Where there is a higher price and a premium in the market
there are superior profits. The supplier will look at the level of profit. If there is a market where there are abnormally high profits as a result of a lack
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