Illustrate who benefits more from a transaction of the good

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Reference no: EM1352158

I have heard it said that the trick to understanding economics is the ability to discern the workings of supply and demand underneath the surface of events. With that being said, select a good or service in which you are familiar. What are the factors that affect the supply and demand of the good or service? Who benefits more from a transaction of the good or service, the buyer or the seller? Generally speaking, why do people enter into trade?

Reference no: EM1352158

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