Offer Meaning

What is Offer:

The word offer comes from Latin offerre, which means 'offer'. In this sense, you can designate actions related to trade: the sale of a certain product, the amount of money offered to purchase it, as well as the sale of a merchandise for a lower price than it usually carries. By extension, the product itself is also called an offer for sale.

On the other hand, offer can also refer to the gift that is given to a person, as well as the promise that is made to someone to give, fulfill or execute something.

Likewise, an offer can refer to the proposal that is made to hire someone: job offer, job offer.

Offer in Economics

In economics, the offer is called the set of goods, products and services that are offered in the market with a specific price and at a specific time.

On the other hand, a series of factors affects the offer, such as the price of the product, the costs of its production, the existing technology for its preparation, as well as the expectations that are had about said product and the market in the future.

Hence, the offer, that is, the amount of products offered by manufacturers is constantly changing.

Offer and demand

As supply and demand, the law of economics is known according to which the prices of products, goods or services are set in relation to their sales.

As such, it is an economic model that is based on two basic principles: supply is directly proportional to price, while demand is inversely proportional to price. That is, the higher the price of a product, the more units will be offered for sale, and, at the same time, the higher its price, the less consumers will demand it.

Hence, supply and demand make the price of goods vary. Thus, in a market of perfect competition, the market price will be established at an equilibrium point, in which everything produced is sold without leaving unsatisfied demand.

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