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It's simple if you have a lot of buyers of one place they will compete and price will go up but if you don't have a buyer at all definiately price will be low like in some areas price are high and in some it's low just because amount of buyers.
What else can I help you with?
What effects supply and demand?
Fluctuations in the price of goods. The affect of demand on price is directly proportional and supply's affect on price is indirectly proportional.
How does supply and demand affect the price of a product?
the higher the demand the higher the price.the lower the demand the lower the price.
How did supply and demmand effect the price of cattle?
Hoe did supply and demand affect the price of cattle
How the non price price factors affect demand and supply?
By doing the factors..
What factor affect price?
What factors usually affect pricing?
How does supply and demand affect pricing?
If supply is greater then the demand then the price is lower but if the demand is higher then the supply then the price is higher due to rarity. :)
What are the factors affecting Demand and supply of goods?
price is the main factor which affect demand and supply and other factors which affect demand and supply are change in income weather change living standard of people alternative things superior to inferior
HOW DID SURPLUSES AFFECT THE SUPPLY AND DEMAND ECONOMY?
A surplus will tend to drive the price down.
What is one way supply and demand can affect the price of a good?
WELL, by exchanging money
Relationship between demand and supply?
1:inverse relationship between supply and demand 2:supply depends upon the demand of a commodity, that it might be positive or negative. 3:supply always depends upon demand but demand never depends to supply. 4:a supply never affects the demand of a commodity but demand always affect to its supply. 5:demand is the initial stage but supply is the stage after demand. 6:supply have a positive relations to price whereas demand has a negative relations with price. 7:supply and price has a direct relations or positive relation. 8:law of supply relates to the price and supply of a particular commodity in a particular time period. 9:price has a connections with demand and supply that it affects both supply in a positive way and demand in a negative way and if price changes then both demand and supply will change. 10:demand curve shows the changes positions of demand in a different price level of a particular commodity where demand schedule also shows the changes positions of demand in a different price level of a particular commodity, hence both have a common objectives to depict the same result in a different way.
What is the rule of price in economics?
Price is tied to supply in demand. If there is a short supply and big demand, price goes up. If there is a short supply and low demand, price will remain steady. If supply is high and demand small, price will go down.
Can you provide a real-world scenario where the concept of supply and demand plays a crucial role in determining the price of a product?
One real-world scenario where supply and demand determine the price of a product is the housing market. When there is high demand for houses but limited supply, the prices of homes tend to increase. Conversely, when there is an oversupply of houses and low demand, prices may decrease. This dynamic interaction between supply and demand influences the pricing of homes in the real estate market.
