How do supply and demand work together to influence the price of a product?

A. Buyers set the supply of a good by purchasing it at a specific price, which creates demand among sellers to decrease the price.
B. Sellers create large supplies of products to keep prices low, while consumers lower demand to increase prices.
C. Sellers supply a certain amount of a product based on how much demand they believe it will have at a particular price.
D. Buyers create high demand for products with a large supply, which causes the products' prices to drop.



Answer :

Final answer:

Supply and demand determine prices in the market, with competition leading to better quality and lower prices.


Explanation:

Supply and demand interact to determine the price of a product in the market. When demand exceeds supply, prices tend to rise, and when supply surpasses demand, prices tend to fall. Competition among businesses offering similar products to the same buyers also influences prices by driving better quality and lower prices.


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