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In general, demand decreases as price increases, resulting in a form of rationing. (However, this effect varies widely among goods and services; for example, demand for gasoline decreases only slightly with increases in price.)
Wiki User
∙ 10y ago
Wiki User
∙ 10y agoto ration scarce good among people who wants more goods than are available.
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The price of a good that prevails in a world market is called the?
competative price
How the price of a good is determined by market forces?
lakshay
What is the difference between supply schedule and market schedule?
A table which contains values for the price of a good and the quantity that would be supplied at that price. A market demand schedule is a table that lists the quantity of a good all consumers in a market will buy at every different price.
When the price of a good or service changes what happens?
When the price of a good or a service changes, people will generally buy that good or service in plenty. People generally love getting real value for their money.
How does a surplus or a shortage of a good or service affect the market price?
A surplus or a shortage of a good or service affects the market price directly. When there is a surplus, the prices goes down and when there is a shortage the price increases due to the demand levels.
Where can I get a good TV for a low price?
To get a good television at a low price is when new and more advanced television are out in the market. you could try to wait for seasonal changes of the products where you can get really good deals for 'older' television which are still new and good.
The price of a good that prevails in a world market is called the?
competative price
What do you call the amount you must pay for a good or service in a market?
Market Price
How the price of a good is determined by market forces?
lakshay
What is the price of elasticity of demand?
The responsiveness of quantity demanded to changes in the price of a good
1 What can be said about the market price when a good is in surplus?
In a surplus, the market price will be lower. Since there are many options for consumers, they will want to pay the lowest price.
What is the difference between supply schedule and market schedule?
A table which contains values for the price of a good and the quantity that would be supplied at that price. A market demand schedule is a table that lists the quantity of a good all consumers in a market will buy at every different price.
When the price of a good or service changes what happens?
When the price of a good or a service changes, people will generally buy that good or service in plenty. People generally love getting real value for their money.
How does a surplus or a shortage of a good or service affect the market price?
A surplus or a shortage of a good or service affects the market price directly. When there is a surplus, the prices goes down and when there is a shortage the price increases due to the demand levels.
When the quantity sold of a good changes significantly in response to changes in price its demand is?
highly elastic
When the quantity sold of a good changes significantly in response to changes in price its demand?
highly elastic
How can one track the price of a Cadillac XLR?
Facilities such as AutoTrader and Kelley Blue Book at good ways to track changes in the price of used cars, and the Cadillac XLR is no exception. These both have frequent updates and show trends in the current market.
