Webchanges in supply and demand affect prices and quantities produced, which in turn affect profit, employment, wages, and government revenue. Chapter 3 introduces models. Webthe law of demand describes the behavior of buyers in markets: As the price (p) of a good or service rises, the quantity demanded (q d) of that good or service falls. Webunderstanding how supply and demand dictate the ebb and flow of the market is crucial for every trader, especially those operating on a budget. Let's unravel the complexities of this law, explore its implications in trading, and discover how it's a game.
