The Factors that Cause Shifts in Supply and the importance of Demand

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The factors that cause shifts in supply and the importance of demand are examined.

  • What is the law of supply, and what are the factors that cause shifts in supply?
  • What is the law of demand and why is it important?
  • Why does an increase in the price of goods and services trigger a decrease in demand?

Answer the above questions in a few sentences 
Be thorough and provide additional research citing real-world examples.  

Cite your sources.

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