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The theory of economics is based on the result of human actions in the market system. The main features of economics principles are deeply rooted in its formality and that is constrained by the number of assumptions or economic thinking which forces the business world to see and interpret the economy of any organization in a certain way. The relationship between the product price and its demand is what is called the demand curve. As the price gets on the higher side, the demand of a particular product will be decreased. In other word, demand refers to how much quantity of a particular product is needed by the people and that demanded quantity of the product will specify the price of that specific product people willing to buy. The quantity demanded will represent how much the market can offer, so the price fluctuates with the demand of the particular product. (more…)
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