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In economics demand is what people want
Supply is what companies want to sell
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∙ 11y ago
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What do you mean by drawn on in the case of a demand draft?
what do u mean by bank drrawn on in demand draft
Extension and Contraction of Demand?
extension and contraction in demand. extension mean increase in demand and contraction man decrease in demand
Who Us civics demand or take authority mean?
to demand or take by authority
What does it mean if the price elasticity of demand is 2?
It's an elasticity coefficient of demand: deltaD/deltaP When the coefficient is >1 it is an elastic demand When the coefficient is <1 it is a nonelastic demand
What does it mean when the price elasticity of demand is -3?
When price increases by 1%, demand falls by 3%.
What does madella mean in spanish?
Demand, or send.
Can you demand your pupillary distance measurement on your new eyeglass prescription?
You can demand all you want, but it doesn't mean you will get it.
Why price on y-axis in demand function?
bez when demand function have price on y-axis, its mean that price have the inverse relation to the demand, in other words price lead to demand curve.
What does it mean that the demand for a product is high?
if a product is in high demand it means lots of people want/like it, if something is in demand someone wants it, high demand means that product is popular and people want it, it's in high demand.
What does the phrase sought-after mean?
Something that is in demand - desirable
What does unitary demand mean?
Unitary is a reference to the type of demand elasticity. Unitary demand elasticity occurs when the elasticity of demand = 1. This indicates that the level of demand changes in-sync with the price at a 1:1 ratio.
How are interest rates being affected in the auto industry?
Higher interest rates mean that the demand for cars have increased, due to an increase in consumer demand. Lower interest rates mean that there is a lower demand and the FOMC is lowering the rates to increase consumer demand. Lower rates, however could also increase the demand for cars. This is why the Feds have to higher the interest rates, to ensure that the supply and demand are at an equilibrium point.
