Supply and demand concerns the theory of consumer behaviour, and constitutes one of the basic segments of microeconomics. The concept includes the calculation of demand, as consumers’ desire for the product, based on the offers, or availability, fluctuates.
Experts at Homework Help UK know how to apply the term in many business strategies by understanding what consumers and the market wants and can offer. For example, the cost of the product increases dramatically when supply is low and the demand is high. Understanding the relationship as such it helps companies price their items according to the current value (dictated by supply and demand) of the product on the market.
Our experts understand how supply-and-demand works in different markets, for example immense differences between supply and demand can be caused by energy companies in order to artificially create a shortage: electricity power plants can get shut down for alleged maintenance in the days of peak demand to raise prices, and in these times of energy charging up to 20 times the normal price. Trust the experts at Homework Help UK, get a quote now.
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