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Q: How will you react if there is an erratic supply of products or raw materials?
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How would suppliers react to a price increase for a product?

Suppliers supply more of the goods as and when prices of that commodity increases.


How is elasticity of supply related to elasticity of demand?

Elasticity of supply refers to the responsiveness of guantity supplied of a commodity to changes in its own price. And the formulafor measuring elasticity of supply percentagechange in quantity supplied/ %change in price


How does quantity supplied of a good with a large elasticity of supply react to price change?

It will be very sensitive to price change. A change in the price will change the quantity supplied by a factor greater than 1. ps: Price elasticity of supply= (% change in quantity supplied)/(% change in price)


How does the quantity supplied of a good with a large elasticity of supply react to a price change?

Demand for a good can be elastic at a low price but inelastic at a high price. YouRE VERY WULCOM novanet ANSWER =)


What are the consequences of a planned economy?

There are two general limitations:Inefficient resource distribution: surplus and shortage; The economic planners are unlikely able to accurately predict future supply and demand. Without market forces to adjust demand and supply you will likely end up with inefficiencies in production as a resut of surpluses for goods not wanted and shortages of goods which were desired.Suppression of economic democracy and self-management. Market forces allow entrepreneur and business to react quickly to market forces and ensure that there are less shortages and surpluses.

Related questions

Do bulls react to red?

Bulls react to erratic movements of objects, not their color.


Materials at the end of a reaction?

before reaction = reactants after reaction = products


What are materials made by chemists?

medicines, electronic components, composite materials in aircraft and polymers


What do you call a substances that react together to make products?

Reactants react together to form products.


What are the substances that are about to react called in a chemical reaction?

No. The substances that react together are the reactants. The new substances produced by the reaction are the products.


Does mercury react with plastic?

Mercury doesn't react with plastic materials.


What materials are in LCD?

glass and liquid crystals that react to pressure


When chemicals react to eact other what do they form?

They form other compounds (the products).


When do reactants give products?

They give products when they are brought together and react.


What products are formed when bases react with an acid?

salts


How did the colonist react to the acts?

They boycotted british products


When a halocarbon react with a base what products are produced?

When a halocarbon reacts with a base, the products are an alcohol and salt.