Supply and demand along with wants and needs are fundamental economic concepts that apply to all products. Supply refers to the quantity of a good that is available while demand represents how much of that good consumers want. Wants are things people desire but can live without, while needs are essential goods and services required for survival. Different types of charts like pie charts, bar charts, and line charts can provide percentages or trends in economic data over time to help guide markets. Scarcity measures the limited availability of resources, while stock refers to investments in companies.
Supply and demand along with wants and needs are fundamental economic concepts that apply to all products. Supply refers to the quantity of a good that is available while demand represents how much of that good consumers want. Wants are things people desire but can live without, while needs are essential goods and services required for survival. Different types of charts like pie charts, bar charts, and line charts can provide percentages or trends in economic data over time to help guide markets. Scarcity measures the limited availability of resources, while stock refers to investments in companies.
Supply and demand along with wants and needs are fundamental economic concepts that apply to all products. Supply refers to the quantity of a good that is available while demand represents how much of that good consumers want. Wants are things people desire but can live without, while needs are essential goods and services required for survival. Different types of charts like pie charts, bar charts, and line charts can provide percentages or trends in economic data over time to help guide markets. Scarcity measures the limited availability of resources, while stock refers to investments in companies.
supply and demand and wants and needs are the basic of economics, any product applies to this
supply is how much of something is available
demand is how much of something people want a want i something you have to have a want is something you would like to eat if you keep the supply low you can keep the prices higher wants and needs trends guide the market pie chart gives a percentage of something bar chart gives more a comparison than a percentage line chart gives the trends of something, maybe what has happened in the last 10 years break even A good is something you can use or consume, you buy a good with the idea that you would use it, it is something you can hold in your hand A service is something you can't touch, you can touch the result of the service but not the service itself Interdependence means "dependent on others for some needs", you can't produce anything you need As we move in time we are losing tracks of the basic needs, that's what we have to be careful with Scarcity is a measure of supply Stock is an investment that people pay to a company