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What word describes an increase in a products price without an increase in the products value?
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Which of the following economic terms describes an increase in product price without the increase of money's worth?
Inflation is the economic term that describes an increase in product price without the increase of money's worth.
Why do firms try to sell more products or to sell them at higher prices?
To increase revenue. Revenue = Price x Quantity sold. So if a firm sells more products and/or sells products at a higher price, revenue will increase.
Will an increase in supply without any changes in demand will cause the price to rise?
No, an increase in supply without a change in demand will cause the price to fall.
For most products and services an increase in price results in?
e2020 answer is B
What describes the substitution effect?
As the price of a good rises, people will substitute other products.
Which of the following economic terms describes an increase in product price without the increase of money's worth?
Inflation is the economic term that describes an increase in product price without the increase of money's worth.
Why do firms try to sell more products or to sell them at higher prices?
To increase revenue. Revenue = Price x Quantity sold. So if a firm sells more products and/or sells products at a higher price, revenue will increase.
If products c and d are close substitutes an increase in the price of c will?
increase the demand for d
Will an increase in supply without any changes in demand will cause the price to rise?
No, an increase in supply without a change in demand will cause the price to fall.
Case study how to price your products to increase profits by business owner may -june 1995?
case study on howto price your products
For most products and services an increase in price results in?
e2020 answer is B
What describes speculation?
speculation is a gamble that the price of the stock will increase and an investor will make money.
What describes the substitution effect?
As the price of a good rises, people will substitute other products.
What describes stock speculation?
speculation is a gamble that the price of the stock will increase and an investor will make money.
Do tariffs affect consumers who purchase only domestically produced products?
Tariffs only directly affect imported goods, but they will indirectly affect domestically produced products because the demand for domestically produced products will increase as the price of imported goods increases. When the demand of domestically produced products increases, the price of these products can also increase.
Which of the following describes stock speculation?
speculation is a gamble that the price of the stock will increase and an investor will make money.
If the quantity demanded of the products suddenly increases in response to a reduction in the price or if the quantity demand decreases after a price increase what are the consumers are responding to?
Price signals
