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Sunday 9 December 2018

Plotting Demand Supply Curves for Secondary Goods (Manufactured Goods) !!

It is more representative to use the:

x-axis as the Price ! 
y-axis as the Quantity Demanded! 

Traditional Demand Supply Curves are for Primary Goods (Commodities): e.g. Rice, Liquefied Natural Gas (LNG), ...

These are Price Makers! 

In the Secondary Sector you are a Price Taker! 

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