TERM PAPER 1.docx MICROECONOMICS American Public University System Supply and Demand
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TERM PAPER 1.docx MICROECONOMICS American Public University System Supply and Demand For many years now, I have been using bread for my breakfast almost every morning. Bread is good for ones health as it is high in carbs very low amounts of micronutrients. I have enjoyed taking it with my coffee each morning before starting my daily routine. Universal bread market is split up by the type of product, which includes rolls, loaves, sandwich slices and many others. It has many distribution channels where it can be distributed through hypermarkets, supermarkets, retail shops, and many other business places. Several factors are affecting the demand for bread in the market. First, we have the price of the bread. Different brands have different prices. If, for example, a bread goes for three or four dollars, the number of people willing to, but the bread will be many compared to when the price of the bread rises fifty cents to a dollar. An increase in the price of bread leads to a decrease in bread demand, while a decrease in the price of bread leads to more demand. Another factor affecting the demand for bread in the market is the level of an individual income. When the level of one's income rises, the demand to buy the bread also increases, while when the level of one's income goes down, the demand for the bread also goes down. People with high-income levels tend to buy more bread than those with a low level of income. A fall in the level of income leads to a fall in demand for bread, while an
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- Submitted On 22 Jul, 2022 11:12:28
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