0
Describe one fundamental assumption of demand theory and how this assumption might be incorrect?
Wiki User
∙ 14y ago
The greater the demand; the higher the price.
This doesn't apply to free goods, like air.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
If the elasticity of demand for a good at a certain price is greater than One we describe demand as?
Variable
Using the demand and supply analysis try to describe the recent increase in wheat prices worldwide?
demand and supply analysis try to describe the recent increase in wheat prices worldwide
Ceteris paribus or all other things held constant is an assumption that has what effect on a demand schedule?
It takes only prices into account.
Does the ceteris paribus assumption affect a demand curve?
It isolates factors and only looks at one cause and effect at a time. This is why the demand curve is a linear equation (straight line). It wouldn't be possible in real life.
Ceteris paribus or all other things held constant is an assumption that has what effects on demand schedule?
It assumes only prices will change. -458 :D
Which is correct farting on demand or on command?
The correct saying is on command on demand is incorrect
Why isn't the concept of supply and demand include in the four fundamental questions faced by all economic systems?
Both laws of supply and demand include topic of prices while all four fundamental questions asked do not
Why isn't the concept of supply and demand included in the four fundamental questions faced by all economic systems?
Both laws of supply and demand include topic of prices while all four fundamental questions asked do not
If the elasticity of demand for a good at a certain price is greater than One we describe demand as?
Variable
Which does not describe scarcity?
rarely affects the system of supply and demand A+
What does not describe scarcity?
rarely affects the system of supply and demand
Using the demand and supply analysis try to describe the recent increase in wheat prices worldwide?
demand and supply analysis try to describe the recent increase in wheat prices worldwide
Ceteris paribus or all other things held constant is an assumption that has what effect on a demand schedule?
It takes only prices into account.
Does the ceteris paribus assumption affect a demand curve?
It isolates factors and only looks at one cause and effect at a time. This is why the demand curve is a linear equation (straight line). It wouldn't be possible in real life.
According to the law of demand , as prices decrease , the quantity of demand?
Nearly all demand curves share the fundamental similarity that they slope down from left to right, embodying the law of demand: As the price increases, the quantity demanded decreases, and, conversely, as the price decreases, the quantity demanded increases.
Ceteris paribus or all other things held constant is an assumption that has what effects on demand schedule?
It assumes only prices will change. -458 :D
What is the relationship between the demand-side and the federal budget deficit?
Describe the relationship between demand-side economics and the federal budget deficit.
