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University Chadli Bendjedid TAREF Department Economy Level Second Year Instructor Messabhia Lecture Four Demand And Supply The Phrase Supply And

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University Of Chadli Bendjedid EL TAREF Department Of Economy Level Second Year Instructor Ms Messabhia Lecture Four 1 Demand And Supply The Phrase Supply And Demand Was First Used By James Denham Steuart In His Inquiry Into The Principles Of Political Economy Published In 1767 Adam Smith Used The Phrase In His 1776 Book The Wealth Of Nations Supply And Demand Is Perhaps One Of The Most Fundamental Concepts Of Economics And It Is The Backbone Of A Market Economy Demand Refers To How Much Quantity Of A Product Or Service Is Desired By Buyers The Quantity Demanded Is The Amount Of A Product People Are Willing To Buy At A Certain Price The Relationship Between Price And Quantity Demanded Is Known As The Demand Relationship Supply Represents How Much The Market Can Offer The Quantity Supplied Refers To The Amount Of A Certain Good That Produc

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