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What is an increase in price usually caused by?
Greater demand and scarcity.
What happens when demand is greater than demand?
When demand is greater than supply a supply shortage or scarcity arises and prices increase.
What is demand push inflation?
Demand-pull is caused by an increase in aggregate demand.
What happens to prices when demand is greater than suply?
They rise. Supply & demand.
What happens when supply is greater than demand?
The price declines until demand increases.
How would greater demand for your job affect your salary?
Basically, when there is greater responsibility or demand in your job, your salary should be higher. They are parallel but also depends on the position that you are in
The law of supply and demand states that the greater the demand for a limited supply of something?
the more it worth
If the elasticity of demand for a good at a certain price is greater than One we describe demand as?
Variable
What is the difference between fall in demand and contraction in demand?
A contraction in demand is caused by an increase in Price and illustrated by a movement up the demand curve. A decrease in demand is caused by any non-price factor (e.g. advertising, tastes and preferences and price of substitute goods) and is illustrated by an inward shift in the demand curve.
A movement along the demand curve for toothpaste would be caused by?
A movement along the demand curve for toothpaste would be caused by an increase or decrease in the price of toothpaste. This change would then lead to a change in the quantity demand.
What will interest rates do if the demand for money in the money market exceeds the supply?
If the demand for money is greater than the supply, interest rates will go up.Whenever the demand for anything is greater than the available supply, the price goes up.
Is a demand curve created from a demand schedule?
The data on a demand schedule can be plotted on a demand curve. Often, a demand schedule will be created before the creation of a demand curve, so as to allow for greater accuracy when plotting the demand curve.
