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What determines the prices of goods and services in the product market?
Supply and demand. Supply and demand determines the prices of goods and services in the market.
What determines the incidence of a tax?
the elasticity of demand of the product taxed
What determines the incident of tax?
the elasticity of demand of the product taxed
What determines a demand for a product?
Purchase power,income level,necessarity,willingness
The price of a product is the amount of money exchanged for the good what determines the price of these goods?
The price of any product is determined by the laws of demand and supply.
Who are the national regulators of newsprint?
This is not a 'controlled' or a 'rationed' product. The law of supply and demand determines its marketability and availability.
What BEST describes the market demand for a particular product good?
The sum of all the individual demands for a particular good determines the market demand for the good.
What determines the demand for product service?
THE Demand for a product or a services depends on a host of factors .some factor are specific product or services market .the importance of these factors may also very over time and over space. how ever the following factor are common to all demand...
What determines the demand for labors?
causes a movement along the MRP curve: -wage rate causes a shift of the MRP curve: -price of capital -changes in productivity -changes in the price of the firm's product -demand for the product
What determines a price of a good service?
The price and quantity are generally determined by the demand for the products, e.g the desire by consumers to purchase them. Generally, the greater the demand, the higher the price, and the greater the quantity that will be produced for sale.
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.
What is the income consumption curve?
Income Consumption curve (icc) is a curve which determine the consumption of a consumer base on in his/her income When Income is High, Spending Capacity increases, higher the spending capacity - more the demand. Thus converse to the original demand theory which says, PRICE determines Demand, ICC theory says, INCOME of a PERSON determines the Demand for a Product
