Supply & Demand: How Markets WorkTh

Supply & Demand: How Markets Work
The two basic terms used most often by economists are supply and demand. The amount of something that is available - the supply - and the amount of something that people want - the demand - make up a working market. The market is the way in which an economic activity is organized between buyers and sellers through their behavior and interaction with one another.
Buyers, as a group, determine the overall demand for a particular product at various prices while sellers, as a group, determine the supply of a particular product at various prices.The interaction of buyers and sellers in the market helps to determine the market price, thereby allocating scarce goods and services efficiently. The price is taken into account when deciding how much of something to consume, and also how much to produce.
The relationship between price and quantity demanded is so universal that it is called the law of demand. This law states that with all else equal, when the price of a good rises, the quantity demanded falls - and when the price falls, the quantity demanded rises. The supply curve provides the opposite information: the higher the price, the higher the quantity supplied - and the lower the price, the lower the quantity supplied.

A key function of the market is to find the equilibrium price when supply and demand are in balance. At this price, the goods supplied are equal to what is being demanded thereby bringing about the most efficient allocation of the goods. An efficient allocation of goods in a market is one in which no one can be made better off unless someone else is made worse off.

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Supply & Demand: bagaimana pasar bekerjaDua istilah dasar yang paling sering digunakan oleh ekonom adalah penawaran dan permintaan. Jumlah sesuatu yang tersedia - supply - dan jumlah sesuatu bahwa orang ingin - permintaan - membuat pasar bekerja. Pasar adalah cara di mana kegiatan ekonomi diatur antara pembeli dan penjual melalui perilaku dan interaksi dengan satu sama lain. Pembeli, sebagai sebuah kelompok, menentukan keseluruhan permintaan untuk produk tertentu di berbagai harga sementara Penjual, sebagai sebuah kelompok, menentukan pasokan produk tertentu di berbagai harga. Interaksi pembeli dan penjual di pasar membantu untuk menentukan harga pasar, sehingga mengalokasikan langka barang dan jasa secara efisien. Harga diperhitungkan ketika memutuskan berapa banyak sesuatu untuk mengkonsumsi, dan juga berapa banyak untuk menghasilkan. Hubungan antara harga dan kuantitas yang menuntut jadi universal bahwa itu disebut hukum permintaan. Undang-undang ini menyatakan bahwa dengan segalanya sama, saat harga yang baik naik, kuantitas menuntut falls, dan ketika harga jatuh, kuantitas menuntut naik. Kurva pasokan menyediakan informasi berlawanan: semakin tinggi harga, semakin tinggi jumlah yang disediakan - dan semakin rendah harga, semakin rendah jumlah yang disediakan.A key function of the market is to find the equilibrium price when supply and demand are in balance. At this price, the goods supplied are equal to what is being demanded thereby bringing about the most efficient allocation of the goods. An efficient allocation of goods in a market is one in which no one can be made better off unless someone else is made worse off.