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What happened to the price of leather goods in 2001 as a result of an outbreak of hoof-and-mouth disease in Europe that led to the burning of millions of cattle carcasses?
The price increased because of the same demand but fewer products.
What happened to the price of consumer goods after World War II?
increased
What happened to the price of consumer goods when demand grew after the war?
Decreased Rapidly
Why would the price of goods increase each time it exchanged hands from Asia to the Middle East to Europe?
The price of the goods would rise to cover the cost of the additional transport and, additionally, make the act of transporting the goods profitable.
What would happen to the price of goods each time it exchanged hands from Asia to the middle east to Europe?
Each time a good changes hands, it increases in price.
What is price of related goods in demand?
Price of related goods in demand means prices of substitute goods and complementary goods.
How does price help to connect the availability of goods to the demand for goods?
The price of a given commodity will determine both the demand and the availability of goods. If the price is reduced the demand of the goods will increase and the availability of the goods will reduce.
What detemines the price and the quantity produced of goods?
Supply determines the price and quantity of produced goods.
Reasons for consigning the goods at invoice price?
Give reasons for consigning the goods at the invoice price.
Costs of goods sold is also called?
price at which goods are sold is called selling price
How does the price system affect goods and services?
goods and services whether it may be anything price will be there for it
Why supply curve is upword?
A supply curve or schedule represents the quantity of goods suppliers are willing to sell at every price point. Thus, at a price of 0 dollars, suppliers would be willing to sell 0 of their good (they are getting no money!). If the price were say 1 dollar, only a small amt of supplier would be willing to sell their goods. As the price increases, suppliers are willing to sell more quantity of their good (they are getting more money per unit!) rather than hold onto their goods.
