The given statement is correct. Both the blades of a pair of scissors are equally important to cut a piece of cloth. Similarly, both demand and supply are needed for determining price in the market. There is no use for the demand for a product if there is no supply for the product and supply is not needed if there is no demand for the product. One of the two may play more active role in price determination in the short run. But, both are needed to determine the price in the long run.
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Grade -12 (NEB) > Management Economics
“Demand and supply are like two blades of a pair of scissors”
“Demand and supply are like two blades of a pair of scissors”. give reason for this stament.
1 Answer
CTEVT > Diploma/PCL > PCL In Medical Lab Technology Revised 2019
Topics from Economics
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