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What describes a situation in which a price of a good would rise?
Wiki User
∙ 6y ago
Demand goes up or supply goes down.
- Producers cannot make enough of a good when that good becomes popular.
- The raw materials or production capability for a good is unexpectedly reduced.
Nadia Heidenreich
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What describes a situation in which the price of a good fall?
A new technology allows producers to increase supply very quickly.
In which situation would the price of a good most likely increase?
A rise in demand happens to quickly for produces to increase production to keep up.
Inelastic demand curve?
Inelastic demand means a situation in which the demand for a product does not increase or decrease correspondingly with a fall or rise in its price. From the supplier's viewpoint, this is a highly desirable situation because price and total revenue are directly related; an increase in price increases total revenue despite a fall in the quantity demanded. An example of a product with inelastic demand is gasoline. Refer to link below.
In which situation with the price of a good be most likely to decrease?
The price of a good can decrease if supply is greater than demand. The price can also decrease if that item has been superseded by a newer version.
What describes the substitution effect?
As the price of a good rises, people will substitute other products.
What describes a situation in which the price of a good would fall?
the community is crazy
What describes a situation which the price of a good would rise?
A new technology allows producers to increase supply very quickly
What describes a situation in which the price of a good fall?
A new technology allows producers to increase supply very quickly.
In which situation would the price of a good most likely increase?
A rise in demand happens to quickly for produces to increase production to keep up.
Inelastic demand curve?
Inelastic demand means a situation in which the demand for a product does not increase or decrease correspondingly with a fall or rise in its price. From the supplier's viewpoint, this is a highly desirable situation because price and total revenue are directly related; an increase in price increases total revenue despite a fall in the quantity demanded. An example of a product with inelastic demand is gasoline. Refer to link below.
What does a good citizen do in a dangerous situation?
It would really depend on the situation, but a good citizen would probably assist any person who was in danger. A good citizen would also cooperate with the police in a dangerous situation.
In which situation with the price of a good be most likely to decrease?
The price of a good can decrease if supply is greater than demand. The price can also decrease if that item has been superseded by a newer version.
What describes the substitution effect?
As the price of a good rises, people will substitute other products.
Would it be a good you idea to invest in gold?
Yes gold would be a good investment. Due to the current economic situation the U.S. dollar is weak and getting weaker. However as the dollar depreciates the price of gold goes up.
A situation that occurs when a producer cannot offer a particular good or service at the current price?
shortage
What describes a situation in which the proce of a good would rise?
The question is incomplete. No options (for which of the following) are given to answer the question.
What would be a good discount price on a TV mount for the wall?
Anything under $50 would be a great discount price. Anything between $50 and $70 would be a good price.
