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According to the free market, when the disaster hits, there is a disruption in supply and demand and thus, the equilibrium price increases: market is cleared and there is no excess in demand or supply.
However, the negative side of this is that there would be poverty for people who can't afford this new price.
What else can I help you with?
When disasters hit an area the cost of everything seems to go up immediately food water housing gas and so forth Explain why this phenomenon may be a good thing using the laws of supply and demand?
When disasters hit an area the cost of everything seems to go up immediately food ,water, housing, gas. Explain why this phenomenon may be a good thing in the used of supply and demand ?
In a disasters the cost of everything seems to go up?
Yes it does. Supply and demand
When disaster hits why does the cost of food and gas go up supply and demand?
There is no way supply and demand affect disasters, they are natural things in nature while supply and demand are economic processes. Disasters can easily decrease the supply of something, which increases the price on that good.
Housing is expensive and time consuming to build?
The supply of housing is inelastic
What commodities has the most inelastic supply?
Housing;)
What results from the fact that housing is expansive and time consuming to build?
The supply of housing is inelastic.
What is housing supply?
Housing supply refers to the total number of residential units available for sale or rent in a particular market at a given time. It encompasses various types of housing, including single-family homes, apartments, and condominiums. The housing supply is influenced by factors such as construction rates, zoning laws, and economic conditions, impacting affordability and availability for potential buyers or renters. An imbalance between housing supply and demand can lead to rising prices and housing shortages.
When disaster hits an area the cost of everything seems to go up immediately why is this a good thing using the laws of supply and demand?
because it reflects our economy by our standers of price using the supply and demand curve we can judge how much supply we need and at what price to charge as a result of how much demand there is
Commodities has the most inelastic supply?
Housing!:p
What are some causes of housing problems?
Housing problems can arise from a variety of causes, including economic factors like rising unemployment and stagnant wages, which limit people's ability to afford housing. Additionally, insufficient housing supply due to zoning restrictions, lack of investment in affordable housing, and population growth can exacerbate the situation. Other contributing factors include social issues such as discrimination, homelessness, and inadequate infrastructure, which further complicate access to suitable housing. Lastly, natural disasters and climate change can also lead to housing instability by damaging existing homes and displacing communities.
Why does cholera occur after disasters?
After the disasters like the earthquakes, your water supply schemes may get damaged. The sewage systems usually go parallel to your water supply schemes. The contents get intermingled and cholera bacteria are on the top list to take advantage of the situation.
Which of the following commodities has the most inelastic supply?
Housing of course
