0
Buyers don't determine prices directly unless at a lcoal market/yard sale. Sellers determine the price of an object by factors such as supply, demand, and maximum profit.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
What is the role of buyers and sellers in determining market clearing prices?
The sellers will determine how much they want the product to cost to make it worth producing. Buyers will determine how much they will spend on the product.
An economy in which the buyers and sellers determaine what goods are produced is called?
A Free Market is where buyers and sellers determine what goods or produced.
What is the struggle between buyers and sellers to get the best products at the lowest prices?
That Would Be COMPETITION
How are prices determined in a market economy?
it is being determined that, in a market economy, if buyers and sellers meet it will do effect in prices. for example: if the number of buyers increases the price also increases. so sellers will produce more goods and services. in the same manner, if the number of buyers will declined the price will go down so sellers now will produce in constant.
What is supply and demand and how does it affect property prices?
Many buyers plus few houses available for sale means higher house prices - (a sellers market). Few buyers plus a surplus of houses for sale means lower house prices - (a buyers market).
What is the role of buyers and sellers in determining market clearing prices?
The sellers will determine how much they want the product to cost to make it worth producing. Buyers will determine how much they will spend on the product.
An economy in which the buyers and sellers determaine what goods are produced is called?
A Free Market is where buyers and sellers determine what goods or produced.
What happens during a reverse auction?
In a reverse auction sellers are in competition to obtain the buyers business. The name reverse auction is apt because the role of buyers and sellers is reversed and instead of prices escalating, the prices generally go lower as sellers compete for the buyer's business.
What is the struggle between buyers and sellers to get the best products at the lowest prices?
That Would Be COMPETITION
How are prices determined in a market economy?
it is being determined that, in a market economy, if buyers and sellers meet it will do effect in prices. for example: if the number of buyers increases the price also increases. so sellers will produce more goods and services. in the same manner, if the number of buyers will declined the price will go down so sellers now will produce in constant.
How does the law of supply and demand help determine the price of an item?
By creating a balance between buyers who want low prices and sellers who want high prices -APEX -Just did test so trust me xd
What is the meaning of the term reverse bidding?
The term reverse bidding refers to the concept where the role of the buyers and sellers of a typical auction is reversed. So sellers bid at lower and lower prices to acquire buyers.
What is supply and demand and how does it affect property prices?
Many buyers plus few houses available for sale means higher house prices - (a sellers market). Few buyers plus a surplus of houses for sale means lower house prices - (a buyers market).
Do buyers and sellers as one group determine demand but only seller determine supply?
Yes. Buyers want a product and those that sell it regulate how much of it they sell to the buyers, therefore controlling the supply as a result of the demand.
What do bid and ask mean in currency conversion?
The bid and ask are the best prices offered by the buyers and sellers.
What is the communication between buyers and sellers called?
When consumers pay high prices, producers know that they are using their ___________ well.
What country in Europe do buyers and sellers usually come to agreement on prices in order to trade?
Germany Russia and the UK
