Supply and Demand is one of the first things we learn in economics.
供给与需求就是我们在经济学中最早学到的概念之一。
Supply speaks to the quantity of something that's available for sale while demand refers to the willingness to purchase it.
供给指的是一种东西可供售卖的数量,而需求指的是人们购买这个东西的意愿。
If the supply is higher than the demand, the market is thrown off balance and costs typically decrease.
如果供给高于需求,市场就脱离了平衡状态,成本通常会下降。
The opposite is true if demand is greater than the supply available because that commodity is more desirable and harder to obtain.
而如果需求高于供给,比如因为某样产品有更多人想要,或者某样产品变得更难获得,那么就会发生相反的情况。
Elasticity is another key concept in economics.
价格弹性是经济学中的另一个关键概念。
Essentially, here we're talking about how much the price of something can fluctuate before it has a negative impact on sales.
从根本上讲,我们在这要说的是在一个东西的价格变化对其销量造成负面影响之前,它的价格能变动多少。
Elasticity ties into demand and some products and services are more elastic than others.
价格弹性与需求是密不可分的,有些产品或服务比其他的东西拥有更高的弹性。
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