Conventional Supply and Demand
by German Aguirr
1. Demand
1.1. Demand is the rate at which consumers want to buy a product
2. Supply
2.1. Willingness and ability to supply goods determine the seller’s actions.
3. Interaction Between Supply and Demand
3.1. Demand is defined as the quantity (or amount) of a good or service
3.2. supply is defined as how much of a good or service is offered at each price
4. Demand and Supply Schedules
4.1. Price Quantity Quantity Demanded Supplied
5. system dynamicists believe that the availability of a product
6. The demand price schedule is a demand curve that indicates what quantity consumers are willing to buy at a given price