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Price and quantity produced of any given product and service is dependent on multiple economic, social and political factors. Assuming ceteris parabus (all else being equal) the quantity of supply and demand determine the equilibrium point, or price of a good or service.
Wiki User
∙ 9y ago
Wiki User
∙ 8y agoThe price and quantity are generally determined by the demand for the products, e.g the desire by consumers to purchase them. Generally, the greater the demand, the higher the price, and the greater the quantity that will be produced for sale.
Wiki User
∙ 14y agoSupply
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What detemines the price and the quantity produced of goods?
Supply determines the price and quantity of produced goods.
What determines the quantity of a good that sellers supply?
The demand of the consumer determines the quantity of goods a seller supplies. Supply and demand also affects market price.
Price determines the answers to the three basic economic questions?
There are three basic economic questions answered by price. Who will buy the goods and services produced? What goods and services need to be produced? How should these goods and services be produced?
The quantity of a product that will be produced and sold at a specific price is the?
The quantity supplied is the quantity of a product that is produced and sold at a specific price.
What determines the price and quanty of goods?
The price of a good is determined by all the factors that contribute to making the product. These factors include: labor, materials, and manufacturing overhead. The demand curve is the amount consumers are willing to pay at every given price. The quantity of goods demanded depends on the price of the product. If the price is $1, the quantity demanded will be a lot more than if the price was $100.
What detemines the price and the quantity produced of goods?
Supply determines the price and quantity of produced goods.
What determines the price and quantity produced most goods?
Price and quantity produced of any given product and service is dependent on multiple economic, social and political factors. Assuming ceteris parabus (all else being equal) the quantity of supply and demand determine the equilibrium point, or price of a good or service.
What determines the quantity of a good that sellers supply?
The demand of the consumer determines the quantity of goods a seller supplies. Supply and demand also affects market price.
Price determines the answers to the three basic economic questions?
There are three basic economic questions answered by price. Who will buy the goods and services produced? What goods and services need to be produced? How should these goods and services be produced?
The quantity of a product that will be produced and sold at a specific price is the?
The quantity supplied is the quantity of a product that is produced and sold at a specific price.
What determines the price and quanty of goods?
The price of a good is determined by all the factors that contribute to making the product. These factors include: labor, materials, and manufacturing overhead. The demand curve is the amount consumers are willing to pay at every given price. The quantity of goods demanded depends on the price of the product. If the price is $1, the quantity demanded will be a lot more than if the price was $100.
What quantity of a product that will be produced and sold at a specific price is the .?
quantity suppilied
What is the quantity of a product that will be produced and sold at a specific price is?
quantity suppilied
To describe explain and predict changes in the price and quantity of goods sold?
Laws of Supply and Demand explain and predict changes in the price and quantity of goods sold.
What determines a price of a good service?
The price and quantity are generally determined by the demand for the products, e.g the desire by consumers to purchase them. Generally, the greater the demand, the higher the price, and the greater the quantity that will be produced for sale.
Process of price determination?
Price is determined at the point of equilibrium. Equilibrium is a point of balance. In other words, equilibrium is the point at which quantity demanded and quantity supplied is equal. That is, market equilibrium refers to a condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal to the amount of goods or services produced by sellers. This price is called equilibrium price.
If the price is less than the equilibrium price what is the relatiionship of quantity supplied to quantity demanded?
If the price is low, suppliers may well not wish to supply the full quantity that is demanded by consumers.The quantity demanded and quantity supplied determines the equilibrium price in the market. The quantity where these two are equal, that is where the market price is set.
