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Price is tied to supply in demand. If there is a short supply and big demand, price goes up. If there is a short supply and low demand, price will remain steady.
If supply is high and demand small, price will go down.
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∙ 11y ago
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When does equilibrium price in economics happen?
equilibrium price in economics happens when demand for and supply of the products equals
First Indian economist who won the nobel price in economics?
First Indian economist who won the nobel price in economics?
What does 'price floor' mean in economics?
In economics, price floor is the lowest allowed price a commodity can be sold at. They are used by the government to keep some prices from being too low.
What is the definition of economics by J.H Davenport?
He defined economics as the science that treats phenomena from the standpoint of price
What is the formula for finding sale price in economics?
sale price=(regular price)(complement of markdown)
What is equilibrium price in economics?
It is the price where demand equals supply in a competitive market.
Price theory is also known as?
development economics
What has the author Howard Nicholas written?
Howard Nicholas has written: 'Marx's theory of price and its modern rivals' -- subject(s): Prices, Microeconomics, BUSINESS & ECONOMICS / Economics / Theory, Marxian economics, BUSINESS & ECONOMICS / Economics / Comparative, BUSINESS & ECONOMICS / Economics / Macroeconomics
What are the determinants of the dead weight loss in economics?
The determinants of the deadweight loss in economics are the price elasticities of supply and demand.
What is the study of economics called?
in a market economy, a high price is a signal for?
Is it true that In economics the price rise when demand exceeds supply?
Yes
As price increases purchasing power decreases?
True, FLVS Economics!!
