word
Supply and Demand
suh-PLY un deh-MAND
/səˈplaɪ ænd dɪˈmɑːnd/Listen
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Syllable breakdown
supplyanddemand
Dictionary meaning
The two fundamental forces determining price and quantity in markets — demand: how much buyers want at each price; supply: how much sellers offer at each price; equilibrium is where they meet; shifts in either curve change the equilibrium price and quantity; the foundation of market economics
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