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The main economic influence that determines prices is supply and demand?
Wiki User
∙ 15y ago
yes. However it must be kept in mid that in the case of some items the supply is interfered with by legal or illegal cartels and the price is also inflated by opportunistic government charges.
Wiki User
∙ 15y ago
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Who determines prices?
supply and demand
What determines the prices of goods and services in the product market?
Supply and demand. Supply and demand determines the prices of goods and services in the market.
Who determines prices in a market economy?
in a market economy.. the prices are decided by demand and supply....or compention
What determines prices in the market?
The cost of producing a good or service along with the demand for that good or service.
If supply exceeds demand for a product what economic explanation occurs?
prices decrease
Who determines prices?
supply and demand
What determines the prices of goods and services in the product market?
Supply and demand. Supply and demand determines the prices of goods and services in the market.
The invisible hand directs economic activity through?
The invisible hand directs economic activity through prices. The price of commodities basically determines the law of supply and demand.
Who determines prices in a market economy?
in a market economy.. the prices are decided by demand and supply....or compention
What determines prices in the market?
The cost of producing a good or service along with the demand for that good or service.
If supply exceeds demand for a product what economic explanation occurs?
prices decrease
What economic term means the willingness of consumers to purchase a specific amount of a product at different prices?
Demand is the economic term meaning the willingness of consumers to purchase a specific amount of a product at different prices.
How do prices influence economic behavoir?
If prices are high, people tend to spend less. If prices are low, people tend to spend more.
What determines prices of land labor capital and entrepreneurship in the factor market?
Demand and supply in every market will determine the price differently.
Use economic theory to explain why there might be such a range of prices in airline tickets?
Very simply - supply and demand
A free market economy in which prices are set by economic forces of supply and demand is sometimes described as?
Laissez-faire
Economic growth has caused the relative prices of most basic natural resources to increase true or false?
True - More demand equals higher prices
