商务英语 level5 unit2 part5 Vocabul

Supply and demand are basic concepts of economics.

There are two forces that determine the prices of the goods and services we buy every day.

Being familiar with them can help you better understand the economic world around you.

Trade.

Trade is the exchange of goods or services between buyers and sellers.

A buyer gives money to a seller in return for good service.

The price of a good or service depends on the supply of the seller and the demands of the buyer.

Supply.

Supply is the quantity of goods or services that sellers have and are willing to sell.

In order for a buyer to purchase a good or service, there must be supply of it.

Demand.

Demand is the quantity of goods or services that buyers are willing and able to purchase.

In order for a business to sell its products, there needs to be demand for them.

What determines the price of a good or service being traded?

How much profit a seller makes.

The supply and demand of the product,

an exchange of money.

The price of a good or service depends on the supply of the seller and the demands of the buyer.

What will happen to a farm supply of apples if it's apple crop grows well.

Its supply will decrease.

It will sell more apples,

its supply will increase.

If it's apple crop grows well, its supply of apples will increase.

If there is a demand for its goods or services, a business won't be able to sell them.

The price of a good or service depends on how much supply the seller provides and how much the buyer demands.

The company is increasing supply to meet new demand.

As consumer income rises, there is usually a higher demand for high end products.

There was not enough demand for their products, so they were forced to cut prices.

In order for a buyer to purchase a good or service, there must be supply of it.

The price of a good or service depends on how much supply the seller provides and how much the buyer demand.

Market price.

The market price is the price at which something is offered in the marketplace.

If consumers think the price of a product is too high, they will not want to buy it.  So there will be little demand.

If the price of a product is lower than consumers expectations, it will be sold quickly at less profit.

Surplus.

A surplus occurs when the supply of a product is higher than the demand.

If sellers have a surplus of products, they may lower their prices in order to sell more.

Shortage.

A shortage occurs when there is not enough supply to meet the demand.

During a shortage, sellers may choose to raise the prices in order to make more money.

What happens when the price of a product is lower than consumers expectations?

If the price of a product is lower than consumers expectations, it will be sold quickly at less profit.

The product doesn't sell well, it may lead to a surplus.

Why the seller raised the price of a product during a shortage.

They want to reduce demand.

They want to sell more products.

They want to make more money.

During a shortage, sellers may choose to raise the prices in order to make more money.

What happens when the supply of a product is lower than its demand?

A shortage occurs when there is not enough supply to meet the demand.

The quantity of goods or services that sellers have and are willing to sell.

Supply is the quantity of goods or services that sellers have and are willing to sell.

The market price is the price at which something is offered in the marketplace.

The supermarket had a surplus of pairs, so it's lower the price in order to sell them before they went wrong.

At the end of the summer, the store has a surplus of shorts because they didn't sell well.

There has been a shortage of that toy. So some vendors are selling it for three times the price.

They underestimated demand for their new handbags. So there was a shortage.

At the end of the summer, the store has a surplus of shorts because they didn't sell well.