In one or two sentences, explain how consumers affect which goods and services are produced.

Question

Jerry Hopkins

Social Studies

10 August, 21:16

In one or two sentences, explain how consumers affect which goods and services are produced.

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Emerson Bradley · Answer 1

Based on Supply and demand; If more people want a commodity, is the most in demand, therefore the price will be higher.

Demand is the quantity of goods that consumers are willing and able to buy at a given price, while the supply is the quantity supplied by suppliers at a given price. If more people want a commodity, is the most in demand, therefore the price will be higher.