Market Demand

IntroductionIn a free market economy, the price of a good or service is determined by the interaction of demand (buyers) and supply (sellers).

Topic: Concept of Demand Lesson Objectives By the end of this lesson, students should be able to: Define demand and explain what it means in economics.

Factors Which Influence Level of Wages and and supply of labour The level of wages is largely influenced by the interaction of labour demand and supply.