Modeling price, supply and demand by using system dynamics
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Date
2020
Authors
Poiasnyk, Yaryna
Journal Title
Journal ISSN
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Abstract
Supply and demand, in economics, relationship between the quantity of a
commodity that producers wish to sell at various prices and the quantity that
consumers wish to buy. It is the main model of price determination used in economic
theory. With demand indicated by a downward sloping demand curve and supply
represented by an upward sloping supply curve, then equilibrium in this market is
where demand equals supply.
Description
Keywords
economic theory, the price change rate, price supply and demand, conference materials
Citation
Poiasnyk Y. Modeling price, supply and demand by using system dynamics / Poiasnyk Yaryna // 3rd Annual Research Conference "Theory and practice of system dynamics in finance" : proceedings, December 7, 2020, Kyiv / ed. by Olena Primierova ; National University of Kyiv-Mohyla Academy, Department of Finance, Center of Financial and Economic Research [et al.]. - Kyiv : [Інтерсервіс], 2020. - P. 67-69.