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If a drought severely reduces the amount of corn available to consumers what would you expect to happen?
Wiki User
∙ 16y ago
f66fhThe price of corn would go up
Wiki User
∙ 16y ago
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What is an example of something that reduces demand for a product?
Often when prices are too high and demand for a product or service lessens, it is because consumers have found a suitable substitute.
What are strength of market globalism?
• Reduces your cost and increases your savings • Strong competitive advantage • Improves the effectiveness of your service or product • Increases consumers awareness of your brand
What impact does inflation have on the monetary unit assumption?
Inflation has a lot of impact on monetary unit assumption. Inflation greatly reduces the value of a monetary unit and acts as a hidden tax on consumers.
Why is that profit maximization may not necessary lead to wealth maximization?
Because as the price of a commodity increases, the purchasing power of consumers reduces. Consumers will then shy away and only few people would be able to pay for the extra. Thus, increase in profit may not necessarily mean maximization of wealth.
Why does a Demand curve for a normal good downward sloping?
I. An increase in the price of the good induces consumers to purchase substitute products. . II. An increase in the price of the good reduces consumer' purchasing power. III. Law of Demand- Inverse relationship between price and quantity
Does moisture stress and drought mean the same?
No. Moisture stress can be a result of drought. Moisture stress results when the level of water in the plant cell reduces to less than normal levels. This happens when there is an environment deficient of water (like a drought condition)
What are the effects of sales tax on consumers?
Sales tax directly reduces consumers buying power. When sales taxes are high, consumers are forced to spend more money on taxes and less to spend on other items.
What does a heater resistor do?
reduces the voltage available to the blower motor.
What ara the objective and merit of privatization?
The merits of privatisation are 1)it reduces public expenditure 2)It promotes efficiency 3)It promotes innovation 4)It generates more revenue to the government 5)It makes more and better choices available to consumers
What is impact of taxation?
Taxation reduces discretionary income. With more taxes consumers will purchase less because if they don't they will have to pay more taxes.
How do issues in mobility management affect regular consumers?
Mobility management issuse may temporarily slow down effective services to all consumers, including regular consumers. If mobility management is effective and deals with all current and potential issues effectively it reduces the cost of services to all consumers and will reduce traffic congestion among other things.
What happens to the xylem system during drought when water is scarce?
Falling moisture levels in the leaf cause the guard cells to change shape, closing the stomata. This reduces water loss from the plant.
What is an example of something that reduces demand for a product?
Often when prices are too high and demand for a product or service lessens, it is because consumers have found a suitable substitute.
What are strength of market globalism?
• Reduces your cost and increases your savings • Strong competitive advantage • Improves the effectiveness of your service or product • Increases consumers awareness of your brand
What will the population with the greatest number of members be?
In an ecosystem, the population with the greatest number of members will be the producers. The consumers' population reduces with the trophic levels.
Effect of a monopolist's price increase?
If a monopolist raises his prices above marginal cost, he will increase his profits. This seems like a good thing for the monopolist. However, the down side is that it reduces the well-being of consumers. Most times, the harm to consumers is greater than the gain of the monopolist.
What impact does inflation have on the monetary unit assumption?
Inflation has a lot of impact on monetary unit assumption. Inflation greatly reduces the value of a monetary unit and acts as a hidden tax on consumers.
