The demand for a particular good is determined by its relative price relative to the other goods in the market.
That’s right, but it’s not a determinant of the demand for a particular good. It’s a way of saying that the market in general tends to have a greater demand for a particular good. For example, say you have a lot of apples, but you have a lot more oranges. That’s because oranges are cheaper than apples. But in that case, you’d be more likely to buy apples since oranges are cheaper than apples.
Demand for a particular good is a way to find out whether there is a demand for a particular good. For example, if you have a lot of apples, and you have a lot of oranges, you would have a good demand for apples. However, its a very poor way of finding out if the market for a particular good exists.
There are two things that are determinant of the market for a particular good. One is its demand and the second is its price. In our example above the demand for apples is what we call the Market Demand for apples. The price for apples is what we call the Market Price for apples. Demand determines how many apples we sell for a given price.
The market is designed to maximize demand and supply and is designed to maximize supply.
It’s always helpful to look at the price of a good, and then see if it’s a good that’s more expensive, or if it’s a good that’s much cheaper. For example, we could get a good for $1 for two apples and $2 for two apples. We could also get a good for five apples and buy two apples for $1 each.
To determine the price of something, you have to know what the market price is, which is calculated by asking a question like “How much does it cost to get one apple?”. To figure out what the market price is, you look at the average price of all the apples on the shelves.
The average apple is usually $1.00. Just because you get one apple doesn’t mean you get a lot of apples.
There are other factors such as the size of the apple, its sweetness, the type of the apple, and the amount of water in the apple. For example, an apple that costs 5 cents on the average shelf might sell for 2 cents if sold at a discount. The only way to decide what the average price is is to look at all the apples on the shelves and then ask the same question.