0
What else can I help you with?
How does price help to connect the availability of goods to the demand for goods?
The price of a given commodity will determine both the demand and the availability of goods. If the price is reduced the demand of the goods will increase and the availability of the goods will reduce.
What is a Price-coordinated economy?
A price coordinated economy is one where prices determine the allocation of scarce goods and services.
How can the price elasticityof demand be used to determine whether two goods belong to the same industry or not?
not
What is Aggregation for manufactured goods typically based on?
Marketing considerations
Consumer price index?
Consumer price index is a way to measure the averages of prices of consumer goods and services. It is calculated by taking price changes of items or goods and averaging them. Consumer price index is used to assess price changes associated with the cost of living.
What factors determine whether a price floor is binding in a market?
A price floor is binding in a market when it is set above the equilibrium price, leading to a surplus of goods. Factors that determine whether a price floor is binding include the level at which the price floor is set, the elasticity of supply and demand for the product, and the presence of substitutes or complements in the market.
What is price of related goods in demand?
Price of related goods in demand means prices of substitute goods and complementary goods.
What factors are used to determine household demand for a product?
Household income, wealth, price of other goods, taste and preference and expectation
How can one determine producer surplus from a table?
To determine producer surplus from a table, subtract the cost of production from the price at which the product is sold. The difference represents the producer surplus, which is the benefit that producers receive from selling their goods at a price higher than their production costs.
How much is a stamp to France?
The cost of a stamp to France depends with a number of factors, the package to be delivered, the geographical location, the weight of the goods, and the nature of goods. These are some of the factors that will determine the price of the stamp to France.
What detemines the price and the quantity produced of goods?
Supply determines the price and quantity of produced goods.
Reasons for consigning the goods at invoice price?
Give reasons for consigning the goods at the invoice price.
