Unique Skill ID: ES3E25F687D032E27070

Supply and Demand Modeling

Supply and demand modeling is the quantitative analysis of how the availability and desire for a particular product, service, or resource interact to determine its market price and quantity. This modeling involves statistical data analysis, mathematical modeling, and economic theory to create predictions and scenarios for market behavior. The purpose of this skill is to help businesses and organizations make informed decisions about production, pricing, and resource allocation. It is a specialized skill that requires a strong foundation in economics and statistics.

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