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facture contributing to the rural market
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When a change in price does not lead to changes in demand the demand is called?
inelastic demand
A graph example of supply increase without changes in demand?
If a seller increase supply without changes in demand, his business will not last. He will have more supply than demand.
What changes the equilibrium quantity to change?
It changes when the market demand and or market supply changes.
Could changes in any contributing factors have reversed the decline of the empire?
yes
Price elasticity of demand for luxury goods will be?
elastic becoz wen price of the commodity changes , it affects the demand for the commodity .. Demand for a product is sensitive to price changes .. With icrease in price , the demand decreases nd with decrease in price , demand increases ..
How can population changes affect demand for certain goods?
immediate demand for a good will go up if it's price is expected to rise. this is how population changes affect demand for certain goods.
What causes a change in the demand curve or shift in demand?
Demand shifts if any determinant except the good's own price changes. Shifters include changes in income, changes in the prices of related goods, the number of consumers, and expectations of future prices.
When price changes there is an opposite change in?
Demand
How do the changes of demand affect the price?
Higher demand, the higher the price goes. Remove the demand for something and then the price drops.
What kind of changes would be expected in the demand of a country that has a growing population?
rise in demand for shelter
What kind of changes would be expected in the demand of the country that has a growing population?
A raise in demand for shelter
How income elasticity of demand is used?
the proportional changes in income to proportional changes in demnd.
