Questions what is the main features of the socialist economy?

Forms of market. Give examples and explain.

Key words: system, product, supply and demand.

Supply-and-demand  is one of the most basic and fundamental concepts of economics and of a market economy. The relationship between supply and demand results in many decisions such as the price of an item and how many will be produced in order to allocate resources in the most cost-effective and efficient way.

Supply refers to the amount of goods that are available. Demand refers to how many people want those goods.

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  When supply of a product goes up, the price of a product goes down and demand for the product can rise because it costs loss.
  
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  At some point, too much of a demand for the product will cause the supply to diminish. As a result, prices will rise. The product will then become too expensive, demand will go down at that price and the price will fall.
  
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  Supply and demand should reach an equilibrium. The amount of goods being supplied is the same as the amount demanded and resources are allocated efficiently.
  

Product (business), an item that serves as a solution to a specific consumer problem. Product (project management), a deliverable or set of deliverables that contribute to a business solution. 

95.