Busines unit 1 - Demand and Supply 0.0 / 5 ? Business Studiesdemand and supplyGCSEAQA Created by: CpLucyCreated on: 16-05-16 12:27 What does demand mean? the quantity of a product consumers are willing and able to buy 1 of 5 What does supply mean the quantity of a product producers are willing to make and sell 2 of 5 What is equilibrium Where producers and consumers agree 3 of 5 What is the law of demand? If the price of a product increases, the demand decreases 4 of 5 What is the law of supply As the price increases, the supply increases 5 of 5
GCSE AQA business studies Unit 1 starting up a business 5.0 / 5 based on 1 rating Teacher recommended
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