0
Petrol is a complementary product for car.How can increase in income will affect the demand for petrol if you know that a car is a normal good?
Wiki User
∙ 11y ago
i dont knowhgfdgfhjjk
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
Does the changing of petrol price affect the rate of inflation?
The changing of petrol price affects the rate of inflation. When petrol price increases, it follows that the cost of production and transportation of most goods also increase.
How do capital goods affect the GDP?
Investing in capital goods can increase productivity and / or workforce. These can affect the Gross Domestic Product if quality or number of products increase consequently.
How does an increase in a products price affect demand for the demand for the product's complements?
It can affect demand because of individual low income earner.
How does law of demand affect the law of quantity?
It's a pretty basic concept learned in school. As more people demand a product, the availability of the product decreases. Therefore, causing the price of the product to increase with the demand.
Does the price of oil affect the price of petrol?
Yes, petrol prices will move slightly to reflect the oil price, although in the UK the the oil cost is a very small part of the price per litre, tax and fuel duty makes up the majority of the cost. Also as petrol if produced through fractal distillation (separation of crude oil) the price of petrol is most likely to increase slightly through the price of oil.
Does the changing of petrol price affect the rate of inflation?
The changing of petrol price affects the rate of inflation. When petrol price increases, it follows that the cost of production and transportation of most goods also increase.
How does temperature affect the physical properties of petrol?
An increase in temperature will reduce the density, reduce the viscosity, reduce thermal conductivity, and increase the specific heat capacity. A decrease in temperature will have the opposite affect.
How do capital goods affect the GDP?
Investing in capital goods can increase productivity and / or workforce. These can affect the Gross Domestic Product if quality or number of products increase consequently.
How does an increase in a products price affect demand for the demand for the product's complements?
It can affect demand because of individual low income earner.
How does combustion of petrol affect the air?
the air pollution
How does law of demand affect the law of quantity?
It's a pretty basic concept learned in school. As more people demand a product, the availability of the product decreases. Therefore, causing the price of the product to increase with the demand.
How does petrol affect the environment?
Petrol is a Fossil fuel. It gives out enormous amounts of Carbon-dioxide on combustion. All vehicles use petrol. So it causes environmental pollution.
Does the price of oil affect the price of petrol?
Yes, petrol prices will move slightly to reflect the oil price, although in the UK the the oil cost is a very small part of the price per litre, tax and fuel duty makes up the majority of the cost. Also as petrol if produced through fractal distillation (separation of crude oil) the price of petrol is most likely to increase slightly through the price of oil.
Do petrol pumps affect the pH of surrounding soil?
No, in the absence of leaks.
Limitations of sales promotion?
- if used over a long term it may affect product image - it may affect the sales of the product that are not under the sales promotion program - over emphasis on short term increase in sales could affect the attainment of long terms objective - it delays the purchase during the non-promotion season
Is the degree of responsive with which quantity demanded changes due to changes in the price of a product?
Yes. Imagine you are in the market to buy a sports car. A $100 increase in price is not likely to affect the quantity you will demand. However, if you are in the market for bananas a $100 increase in price will definitely affect the quantity you will demand.
How would lack of product affect supply and demand?
A lack of product (a.k.a. a shortage) would primarily cause an increase in the price of the good or service. An increased price means more supply, but it also means less demand.
