a
supplier
b
consumer
c
quantity of goods demanded
d
quantity of goods supplied
e
interaction of demand and supply
Explanation
Correct Option
eNo explanation available
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rapzeesix
10 years ago
Here is an explanation:
The price of a commodity is determined by the interraction of demand and supply. Because before a price can be stated, the demand and supply of d commodity will be put into consideration I.e. When Demand is high than supply of a commodity, the price will definately be high and vice versa.
REF: Comprehensive economics page 24
Hollamicruz
10 years ago
yeah u are rite, it depend on the interaction of demand and supply, which goes wit de rule of demand and supply thus de higher de price de higher and quantity supply, and de lower de price de higher de quantity demand.
