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I need help understanding this: A knowledge of the Laws of Demand and Supply are critical to understanding as to how markets determine price and
I need help understanding this:
A knowledge of the Laws of Demand and Supply are critical to understanding as to how markets determine price and output levels of the goods, services, and resources exchanged in markets. Provide two examples of how the forces of demand supply establish prices and output levels in a current market for a specific product. Examply, what are the forces currently determining the price of oil and natural gas in the markets for them.
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