GLOSARY OF TERMS

Supply is a fundamental economic

concept that describes the total
amount of a specific good or service
that is available to consumers
Demand is an economic principle referring to a
consumer's desire to purchase goods and
services and willingness to pay a price for a
specific good or service
ARRANGED THE RUMBLED
LETTERS ON THE NEXT SLIDE.
THSEAORG
USSRPL
U
1.SHORTAGE
2.SURPLUS
CLAIMED YOUR PRICE LATER!!!
BASIC NECESSITIES;
Refers to;
 rice
 corn
 Bread
 fresh
 dried
 canned fish
 other marine products
 fresh pork
 beef
 poultry meat,
 fresh eggs,
 fresh and processed milk
 infant formulas
 fresh vegetables
 root crops
 coffee, sugar,
 cooking oil
 salt, laundry soap, detergents,
firewood, charcoal, candles ...
SUPPLY AND DEMAND

is one of the most

basic and fundamental
concepts of economics
and of a market
economy
EXAMPLES:SUPPLY AND DEMAND
CONCEPT
 Supply refers to the amount of goods that are
available. Demand refers to how many people
want those goods.
 When supply of a product goes up, the price of
a product goes down and demand for the
product can rise because it costs loss.
 At some point, too much of a demand for the
product will cause the supply to diminish. As a
result, prices will rise. The product will then
become too expensive, demand will go down at
that price and the price will fall.
EXAMPLES: SUPPLY AND DEMAND CONCEPT

Supply and demand should

reach an equilibrium. The
amount of goods being supplied
is the same as the amount
demanded and resources are
allocated efficiently.
HOW SUPPLY AND DEMAND DETERMINE
COMMODITIES MARKET PRICES

Price is derived by the interaction of

supply and demand. The resultant
market price is dependant upon both
of these fundamental components of a
market. An exchange of goods or
services will occur whenever buyers
and sellers can agree on a price.
When either Demand or
Supply changes, the
equilibrium price will change.
For example, good weather
normally increases the supply of
grains and oilseeds, with more
product being made available
over a range of prices.
Submitted by:
Bustamante, Lea Joy L.
Arraniego, Sher Jhonny C.
Angcap Jimboy C.

Submitted to:
Jamaica M. Pondara