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Factors Affecting Demand and Supply

Apart from price, there are many factors that affect demand and supply of goods and services in the market (Handerson, 31). Demand is the quantity of goods and services that a consumer is willing to purchase for his or her own consumption. While supply is the quantity of goods and services a seller is willing and able to supply for sell to the market (BasicEconomics. info). In every market environment, demand and supply are so intertwined and also related in a way that, demand is for consumers and supply is for suppliers. There are specific factors that affect demand, and others affecting supply of goods and services in the market. The main factor that motivates demand is the choices that…

Money Supply

Money supply refers to the amount of money that is circulating in the economy and which is available for spending. It is an important indicator of the economic status of a given country. The Federal Reserve is charged with the responsibility of regulating the money supply and it does this by increasing it if there is a shortage or by decreasing it if it is too much. There are several ways that the Federal Reserve can increase the amount of money supply in circulation. One of these is by lending money to institutions such as banks to increase their capacity to give loans thus increasing the money supply in circulation (Handa 322). Another thing that the Federal Reserve does is…

Demand and Supply

Demand is defined as the amount of goods and services that buyers need in the market. The law of demand states that the higher the price of goods or services in the market the lower the demand when all factors are kept constant. Under natural condition, buyers will buy that product whose price will not force them to forgo another more valuable product. The interaction of price and demand is called demand relationship In graph above represents of the quantity demanded at certain prices at any given moment. Take for instance Quantity (Q1) is demanded at price (P1). Consider points C, D, and E on the demand curve. At C, the price is high and the commodity demanded is low…

The Invisible Hand

The Invisible hand is a term created by the renowned economist Adam Smith in his popular book The Wealth of Nations. It means that when individual’s pursue their own self-interest they are led by an invisible hand that promotes the society’s interest more than what they intended. It is an important property of a competitive market economy. This idea was created in 1776, the same year of the American Declaration of Independence. It wasn’t random, because at the same time when people were fighting for freedom and independence, Adam Smith was talking about emancipating trade from dictatorship. Adam Smith had conviction that government interference in the market place could be harmful to the society. One must not come under the…

Faber-Castell Assignment

1.1 Introduction-Faber-Castell Company Faber-Castell was founded in 1761 as a pencil factory which is owned and managed by the eighth-generation family member Count Anton Wolfgang von Faber-Castell. It is the world’s oldest manufacturer of writing instruments, makes nearly 2 billion pencils a year. Faber-Castell Malaysia was established in 1978. It started to produce natural rubber and PVC-FREE erasers back in 1980. It has become one of the largest eraser manufacturers in the world producing over 500 million pieces of erasers a year. In 1993, a new factory was built in Subang Jaya near Kuala Lumpur. Apart from being the first producer in Malaysia to manufacture writing instrument with GEL technology, this production facility also started manufacturing refillable markers and highlighters…