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If there is excess demand for a product or service what will happen to the price?
Wiki User
∙ 12y ago
there is consumer advice
Wiki User
∙ 12y ago
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What will happen to demand for a commodity if the price of its complementary falls?
Complement goods are those goods which uses collectively or side by side e.g petrol and cars. If the demand of one good changes then demand of other good move in the same direction. If the price of product complementary falls then the demand of complementary product increases according to the demand law which in turn increase the demand of product. Suppose the prices of petrol falls which will increase the demand of petrol which in turn in increase the demand of cars.
What happen if price floor is above equilibrium price?
In a competitive market, it will produce an excess of supply (for the floor price, supply is bigger than demand)
What is most likely to happen to the price of a product if demand and supply increase at the same rate?
prices stay stable. studddy islannd ! :)
What will happen if there is an increase in demand for a product who's supply is perfectly elastic?
The quantity of the the products bought tends to fluxuate a lot. The prices tend to stay somewhat stable. It is opposite for inelastic demand,
Why is the demand for labor referred to as a derived demand?
Derived demand results from a demand for increase in intermediates goods or production resulting from another demand resulting for final or intermediate goods. For example, a demand for an item can make its production increase, which makes its labor increase.
What happen when the demand for a product?
When demand decreases, supply increases.
What will happen when the demand for a product increases according to Adam Smith?
Supply increases.
According to Adam smith what happen when the demand for a product decreases?
Supply increases.
What will happen when products are in excess?
That will tend to make the price drop. For more details, do some reading on "supply and demand".
When does customer service happen?
when customers come back to get more product or service in stead of leaving or complaining.
What will happen to demand for a commodity if the price of its complementary falls?
Complement goods are those goods which uses collectively or side by side e.g petrol and cars. If the demand of one good changes then demand of other good move in the same direction. If the price of product complementary falls then the demand of complementary product increases according to the demand law which in turn increase the demand of product. Suppose the prices of petrol falls which will increase the demand of petrol which in turn in increase the demand of cars.
What happen if price floor is above equilibrium price?
In a competitive market, it will produce an excess of supply (for the floor price, supply is bigger than demand)
What is most likely to happen to the price of a product if demand and supply increase at the same rate?
prices stay stable. studddy islannd ! :)
What is most likely to happen to the prices of a product if demand and supply increase at the same rate?
prices stay stable. studddy islannd ! :)
What will happen if there is an increase in demand for a product who's supply is perfectly elastic?
The quantity of the the products bought tends to fluxuate a lot. The prices tend to stay somewhat stable. It is opposite for inelastic demand,
What happen from a excess of carbohydrates?
diseases that caused by the excess of carbohydrate
What would happen if you put a lot of products in your hair?
Excess product in the hair will lead to product build up, it will weigh down the hair, causing it to be uncooperative when styling, and will alter the appearance of hair color.
