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Think of a product or service you use where PRICES have recently changed Try to explain price changes we observe using demandsupply mechanism?
Wiki User
∙ 16y ago
Supply and demand. Diesel fuel is a good example. Once apon a time diesel fuel was cheaper than gasoline. Then people decided to drive cars and pickup trucks that were powered by this less expensive fuel. The demand went up and the price went up with it. When demand is high, prices will also go high. When demand is low, prices will drop.
Wiki User
∙ 16y ago
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When there are simultaneous changes in demand and supply what happens?
changes in relative prices are the driving force in the market mechanism
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What changes have been in derby?
stupid have changed
