Concept:
This curve means that when two products are been produced in some quantity and they are been sold in the market using diversified resources. Once the sales are done when it's observed that, the sales of one among the both is seemed to be high compared to the other. Then obviously the company would start producing more inputs for the product having high demand and less in case of the one having less demand.
Example:
On considering an imaginary example, we all are familiar with the products produced by ITC. On comparing the paper boat and classmate notebooks. If they find that the sales of the notebooks are high then obviously the production of them would ratherly be higher compared to that of the paperboat.
Economics when applied to real life sounds beautiful. this blog is for those students who are discovering the different facets of economics applications and want to share their discoveries.
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