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I leave the answer to the experts. Thanks for the invitation.
Basically the demand is a mechanisms of the market share estimate for the institution in the estimate supply of their products
I agree with Mr. BARKAT ALI answer. ....Thank for invite
Thanks for the invite ............................ agreed with Mr. Tariq answers
I leave the answer to the experts .
I fully agree with Mr. Barkat Ali's well-explained answer. Thanks
By Economist point of view , currently years supply is based on last years supply , logically it is true , because any producer ,
When find rising in demand then entreprenuer analysis the demand, what kind of rise, either it permanent or seasonals,that is know " Wait and See" policy.
If demand is increasing permanently then entreprenuer invest and its machinairies are not ready made , it has take times and atleast one year for production.
Demand Function is Qd=F(Pt)
Supply function is Qs=f(Pt-1)
There are some factors that influence on demand and supply.
Factors affecting Supply
Price, Cost of Production (Prices of Factors of Production), Technology, Natural Condition, Transport condition, Government’s Policies, Goals / Objectives of the firm, Prices of Other Goods
Factors affecting demand
Price, Number of Buyers, Price of other Goods, Income, Expectations about future, Taste, Competition, Fashions
PriceUsually viewed as the most important factor that affects demand and supply .Price is the agreement between sellers and buyers at this seller wants sale the commodity and buyer wants to buy the commodity.
Equilibrium
A situation in which the market price has reached the level at which quantity supplied equals quantity demanded
Equilibrium price
The price that balances quantity supplied and quantity demanded
Equilibrium quantity
The quantity supplied and the quantity demanded at the equilibrium price
Surplus
A situation in which quantity supplied is greater than quantity demanded
Shortage
A situation in which quantity demanded is greater than quantity supplied
I dont agree because the currently supply in the market is based on the currently consumer demand. this is because when the demand of the commodity increases, the supply will go high and vice versa.
There are several wonderful answers herein already from great professionals, nothing to add