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What is price determinant?
The price determinates are the factors that will determine the price of a particular commodity, These factors are quantity supplied, quantity demanded and the cost of production.
How does price of commodity influence supply?
It's actually the other way around: the supply of a commodity influences its price, in that the more of the commodity you have, supposedly the lower the price to get people to buy more of it.
Is price of a commodity is study of microeconomics or macreconomics give your reason?
price of a commodity is a study of microeconomics as it deals with the behaviour of individual economic units or commodity.
How does price help to connect the availability of goods to the demand for goods?
The price of a given commodity will determine both the demand and the availability of goods. If the price is reduced the demand of the goods will increase and the availability of the goods will reduce.
How is the law of supply similar to the law of demand?
If the demand for a commodity increases, but the supply does not increase equally, the price will increase. If the supply of a commodity increases, but the demand for that commodity does not increase equally, the price will decrease. If the demand for a commodity decreases, but the supply does not decrease equally, the price will decrease. If the supply of a commodity decreases, but the demand does not decrease equally, the price will increase.
What determine price?
The price determinates are the factors that will determine the price of a particular commodity, These factors are quantity supplied, quantity demanded and the cost of production.
What is price determinant?
The price determinates are the factors that will determine the price of a particular commodity, These factors are quantity supplied, quantity demanded and the cost of production.
How does price of commodity influence supply?
It's actually the other way around: the supply of a commodity influences its price, in that the more of the commodity you have, supposedly the lower the price to get people to buy more of it.
Is price of a commodity is study of microeconomics or macreconomics give your reason?
price of a commodity is a study of microeconomics as it deals with the behaviour of individual economic units or commodity.
How does price help to connect the availability of goods to the demand for goods?
The price of a given commodity will determine both the demand and the availability of goods. If the price is reduced the demand of the goods will increase and the availability of the goods will reduce.
How is the law of supply similar to the law of demand?
If the demand for a commodity increases, but the supply does not increase equally, the price will increase. If the supply of a commodity increases, but the demand for that commodity does not increase equally, the price will decrease. If the demand for a commodity decreases, but the supply does not decrease equally, the price will decrease. If the supply of a commodity decreases, but the demand does not decrease equally, the price will increase.
Who determines the price of oil?
Commodity traders determine the pricing of oil commodities. They bid on future contract, which are basically agreements to buy or sell oil at a certain date in the future for a price.
What is the cost to learn commodity futures trading?
There are two approaches to analyze the markets, technical analysis and fundamental analysis. The first is the art of forecasting future price directions by analyzing commodity futures trading chart patterns. The second one looks at all factors which affect production and consumption of the commodity in order to determine if price will rise or decline.
What is commodity dependence?
When a country relies on a certain commodity.
How does the diminish marginal utility and price of superior goods determine negative slope in demand curve?
1. because of substitution effects: When the price of a commodity falls, it become relatively cheaper than other commodities. This induces the consumer to substitute the commodity whose the price has fallen for other commodities, which have now become relatively expensive 2. Income Effect: When the price of the commodity falls, consumers can buy more quantity of commodities with the given income as a result of a fall in the price of that commodity 3. Number of consumers: When more numbers of consumers start buying the commodity, because some of them previously was not afford to buy it. 4. Various use of that commodity 5. Law of diminishing marginal utility
State what the law of supply and demand shows and describe how it works?
If the demand for a commodity increases, but the supply does not increase equally, the price will decreaase. If the supply of a commodity increases, but the demand for that commodity does not increase equally, the price will increase. If the demand for a commodity decreases, but the supply does not decrease equally, the price will increase. If the supply of a commodity decreases, but the demand does not decrease equally, the price will decrease
What is the formula for chain base index numbers?
(price of commodity in the given year/ price of the commodity in preceding year) * 100
