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Laws of Supply and Demand

Horizontales
An economic system where companies are privately-owned, versus being owned by the government, and that assumes companies are built with a purpose of creating economic value through innovation, driven by a profit-motive, and where prices are set by the market via the ebb and flow of supply and demand.
A situation when economic conditions make it favorable to sellers versus buyers, giving sellers an advantage in price negotiations, usually due to excess demand versus supply.
A market where one company controls the supply of a good or service, where other options for consumers aren't readily available, and where the barriers to entry for other companies are highly restrictive.
Verticales
This law states that as the price of a good or service increases, the demand for that good or service will decrease, and conversely, as the price of that same good or service decreases, the demand for it increases.
A situation when economic conditions make it favorable to buyers versus sellers, giving buyers an advantage in price negotiations, usually due to excess supply versus demand.
A momentary state or condition where the quantity of a product supplied equals the quantity demanded for the same product.
The rivalry between companies selling similar products and services, competing to attract customers with limited dollars to spend.
A measure of the sensitivity or responsiveness of demand or supply of a good or service based on changes in economic factors, like price.
An economic system, also called a market economic system, also called private enterprise, where production, wages, and prices are determined via the application of the law of supply and demand, with little or no government regulation.
This occurs when the quantity supplied exceeds the quantity demanded.
This occurs when the quantity demanded exceeds the quantity supplied.