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When demand decreases, supply increases.
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If there is excess demand for a product or service what will happen to the price?
there is consumer advice
What will happen when the demand for a product increases according to Adam Smith?
Supply increases.
According to Adam smith what happen when the demand for a product decreases?
Supply increases.
When a product is in demand what happens to the demand curve?
the market demand for the product. undefined. more inelastic than the market demand for the product. more elastic than the market demand for the product
What will happen to demand for a commodity if the price of its complementary falls?
Complement goods are those goods which uses collectively or side by side e.g petrol and cars. If the demand of one good changes then demand of other good move in the same direction. If the price of product complementary falls then the demand of complementary product increases according to the demand law which in turn increase the demand of product. Suppose the prices of petrol falls which will increase the demand of petrol which in turn in increase the demand of cars.
What is demand products?
Product demand is an economic term. The product demand describes the desire for a particular product that the public has.
What is the relationship between a complimentary good and the demand for the main product?
A complimentary good is a product that is typically used together with another product. The demand for the main product is positively affected by the demand for its complimentary good. When the demand for the complimentary good increases, it can lead to an increase in the demand for the main product as well.
What is most likely to happen to the price of a product if demand and supply increase at the same rate?
prices stay stable. studddy islannd ! :)
What is most likely to happen to the prices of a product if demand and supply increase at the same rate?
prices stay stable. studddy islannd ! :)
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 is the between derived demand and joint demand?
Derived demand occurs when there is a change of customers' demand on particular product and produces have to buy new production equipment, which means that the change in consumer demand for a product affects demand for all firms involved in the production of that product. Joint demand has nothing to do with changing the production equipments. In this case, demand of the product depends on demand of its compliment. For example, demand on inc depends on demand on printers.
What will happen if there is an increase in demand for a product who's supply is perfectly elastic?
The quantity of the the products bought tends to fluxuate a lot. The prices tend to stay somewhat stable. It is opposite for inelastic demand,
