0
What will happen when the demand for a product increases according to Adam Smith?
Wiki User
∙ 9y ago
Supply increases.
Floyd Smith
Aubrey Stamm
The price of the product will increase.
Add your answer:
Earn +20 pts
According to Adam smith what happen when the demand for a product decreases?
Supply increases.
What happen when the demand for a product?
When demand decreases, supply increases.
What will happen when the supply of a product increases According to Adam Smith?
the price of the product will decrease
What will happen to demand for a commodity if the price of its complementary falls?
Complement goods are those goods which uses collectively or side by side e.g petrol and cars. If the demand of one good changes then demand of other good move in the same direction. If the price of product complementary falls then the demand of complementary product increases according to the demand law which in turn increase the demand of product. Suppose the prices of petrol falls which will increase the demand of petrol which in turn in increase the demand of cars.
According to Adam Smith what will happen when the demand of a good increases?
The price decreases.
What will happen if demand increases?
more will be demanded at lower priceType your answer here...
What will happen to price if the demand for ethanol increase?
If the demand for ethanol increases the price will also increase.This is based on price elasticity of demand.
What will happen if demand decreases and supply increases?
the price and value of the item will decrease.
What will happen when Aggregate demand and aggregate supply decrease?
When aggregate demand and aggregate supply both decrease, the result is no change to price. As price increases, aggregate demand decreases, and aggregate supply increases.
When will happen if the sellers in the market increase?
As the Number of Sellers Increases, the Supply of the commodity Increases. As Supply Increases, and demand remains constant, Prices Decrease.
If there is excess demand for a product or service what will happen to the price?
there is consumer advice
What will happen if Aggregate demand increases and aggregate supply increases?
An increase in aggregate demand and a decrease in aggregate supply will result in a shortage: there will be more goods and services demanded than that which is being produced.
