ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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This part of the market determines SUPPLY
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buyers
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sellers
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consumers
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us
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Explanation:
Detailed explanation-1: -Supply is determined by market demand, cost constraints, consumer preferences, and government policy.
Detailed explanation-2: -Price is dependent on the interaction between demand and supply components of a market. Demand and supply represent the willingness of consumers and producers to engage in buying and selling. An exchange of a product takes place when buyers and sellers can agree upon a price.
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