Answer to Question #147668 in Economics for Meli

Question

Think about the economic concepts of supply and demand that you have studied thus far. Write a case study that will appropriately illustrate how supply and demand work Explain why the laws of supply and demand cause the changes you describe. Use an extra sheet of paper if necessary.

Answer 1

Supply- increases when prices increases; demand-vice versa. It happens because sellers try earn as much as they can when customers try to buy as more as they can with with limited funds.