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What type of researcher relationships between the supply of things we want to buy and the prices we have to pay?
Economists
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What type of researcher studies the relationships between the supply of things you want to buy and the prices you have to pay?
economists
What type of researcher studies the relationships between the supply of things we want to buy and the prices we have to pay?
Economists
What type of researcher studies the relationships between the supply of things we want to buy and the price we have to pay?
Economists
What type of researcher studies the relationship between the supply of things we want to buy and the prices we have to pay?
Economists
What type of researcher studies the relationship between the supply of things we want to buy and the prices we to pay?
Economists
What type of researchers studie the relationships between the supply of things we want to buy and the the prices we have to buy?
Economists
What type of researchers studies the relationships between the supply of things we want to buy and the prices we have to pay?
Economists
How does the interaction between supply and demand determine prices in a market?
The interaction between supply and demand in a market determines prices. When demand for a product is high and supply is low, prices tend to increase. Conversely, when supply is high and demand is low, prices tend to decrease. This balance between supply and demand helps establish the market price for a product or service.
When according to the law of supply and demand when supply increases what else happens?
According to the law of supply and demand when supply increases, prices will decrease.
What does an increase in supply of an item usually mean for a consumer?
lots of supply and low demand = lower prices lots of demand and low supply = higher prices demand and supply high = normal prices demand and supply low = normal prices
How does the concept of supply and demand influence pricing in the market?
The concept of supply and demand influences pricing in the market by determining the equilibrium price at which the quantity of goods or services supplied equals the quantity demanded. When demand exceeds supply, prices tend to rise, and when supply exceeds demand, prices tend to fall. This dynamic interaction between supply and demand helps establish market prices.
What best explains the purpose of the supply schedule?
to show the relationship between quantity supplied and prices
