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3: Demand and Supply

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    This chapter introduces the economic model of demand and supply—one of the most powerful models in all of economics. The discussion here begins by examining how demand and supply determine the price and the quantity sold in markets for goods and services, and how changes in demand and supply lead to changes in prices and quantities.

      Thumbnail: Illustrates the intersection of supply and demand curves as the free market equilibrium. (CC BY-SA 3.0 Unported; SilverStar via Wikipedia)


      This page titled 3: Demand and Supply is shared under a CC BY 4.0 license and was authored, remixed, and/or curated by OpenStax via source content that was edited to the style and standards of the LibreTexts platform.

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