Exam (elaborations)
WSET Level 4 D2 Exam Questions With 100% Correct Answers 2024(A+ Graded Verified)
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Describe what happens when relative supply and demand change - ANSWER - When supply exceeds demand: price falls, consumer have greater choice of cheaper alternatives. Producers lower price to remain competitive. Fall in prices lead to increased demand in the long run - When demand exceeds sup...
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