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If demand increases and supply decreaseswhat economic explanation occurs?
Supply will decrease and the price will rise greatly.
If supply exceeds demand for a product what economic explanation occurs?
prices decrease
If demand increaces what economic explanation occurs?
If Demand is one the increase, it means that people have surplus income to spare. This is good indicator of economic growth.
If supply exceeds demand for a product what economic explation occurs?
demand decreases and price will decrease.
Where do equilibrium occurs in economic?
Where the demand curve and supply curve intersect.
Why does the supply curve increase or decrease?
The supply and demand curve follows four basic laws :If demand increases (demand curve shifts to the right) and supply remains unchanged, a shortage occurs, leading to a higher equilibrium price.If demand decreases (demand curve shifts to the left) and supply remains unchanged, a surplus occurs, leading to a lower equilibrium price.If demand remains unchanged and supply increases (supply curve shifts to the right), a surplus occurs, leading to a lower equilibrium price.If demand remains unchanged and supply decreases (supply curve shifts to the left), a shortage occurs, leading to a higher equilibrium price.
How is today's gold prices increase or decrease?
as with any product, prices will fluctuate with demand and supply. if the demand increases or supply is reduced, prices will rise. if demand falls or there surplus supply, the opposite also occurs.
What happens to the price of an object when the demand is high?
The first basic law of supply and demand is: If demand increases and supply remains unchanged, a shortage occurs, leading to a higher equilibrium price. So the price goes up.
Economic growth occurs when a nation's total output of goods and services increases over time. True or False?
true
What occurs in the cardiovascular system during exercise?
Your heart rate increases, oxygen demand increases quickly, metabolic rate increases quickly so more waste is made and more nutrients are used and the body's temperature rises.
Is cyclical unemployment the result of the business cycle?
Yes, cyclical unemployment is a result of the business cycle. It occurs when economic downturns lead to reduced demand for goods and services, causing businesses to cut back on production and lay off workers. Conversely, during periods of economic expansion, demand increases, potentially reducing cyclical unemployment as businesses hire more employees. This type of unemployment contrasts with structural or frictional unemployment, which are not directly linked to the business cycle.
What happens to the demand if The price of a substitute good increase?
If the price of a substitute good increases, the demand for the original good typically increases as well. Consumers may shift their purchasing behavior away from the now more expensive substitute and opt for the relatively cheaper alternative. This shift occurs because the original good becomes more attractive in comparison, leading to an increase in its demand.
