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Why price an independable variable and demand is dependent variable?
Wiki User
∙ 12y ago
Because demand creates the price, and not the price dictates the demand.
Wiki User
∙ 12y ago
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Daily life examples about differential equations?
Here are two variablesDemand and Price, whereas Price is Independent variable &Demand is dependent variable, i.e. if price of something changes the demand will also be affected. Now simple Differential Equation isd (Demand)= constantd (Price)But keep in mind that Price is a function not a simple variable.
Is price is independent variable or dependent variable?
dependent variable
What is definition and examples of dependent variable and independent variable?
I'm doing a science project on if fingerprint patterns are inherited? what is the control, independent variable and dependent variable? An ''independent variable is a ''variable which is presumed to affect or determine a dependent ''variable. independent variable is typically the variable being manipulated or changed and the dependent variable is the observed result of the independent variable being manipulated.'''''' Example; In price and sales relationship one can manipulate price to check its effect on sales, so sale is dependent and price is independent variable.
Is a dependent variable always dependent on an independent variable?
yes. usually you will work with an equal amount of dependent and independent variables. (ie, one dependent variable for every independent variable, and such that there is some kind of relationship between each..) If only. Usually a variable depends on many other variables. Such as, the price of a house depends on its size, number of rooms, distance to schools, age, windows etc.
What are the independent and dependent variables in a small size bottle of water cost 1.99 and a large size bottle of water cost 3.49?
Either- and most people are ignorant of this fact. If your study is about how the size of the bottle affects the price, then the independent variable is the size of the bottle and the dependent is the price. However, if your study is to determine how the price that you pay affects the size of the bottle, the independent variable is the amount of money and the dependent is the bottle size.
Daily life examples about differential equations?
Here are two variablesDemand and Price, whereas Price is Independent variable &Demand is dependent variable, i.e. if price of something changes the demand will also be affected. Now simple Differential Equation isd (Demand)= constantd (Price)But keep in mind that Price is a function not a simple variable.
Where is the dependent variable in a line graph?
The usual way is to plot the independent variable on the horizontal, and the dependent variable on the vertical. There are some where the dependent is on the horizontal, though. Supply-Demand and Price graphs in Economics comes to mind, as an example.
Is price is independent variable or dependent variable?
dependent variable
In a line graph where is the dependant variable plotted?
The usual way is to plot the independent variable on the horizontal, and the dependent variable on the vertical. There are some where the dependent is on the horizontal, though. Supply-Demand and Price graphs in Economics comes to mind, as an example.
What is definition and examples of dependent variable and independent variable?
I'm doing a science project on if fingerprint patterns are inherited? what is the control, independent variable and dependent variable? An ''independent variable is a ''variable which is presumed to affect or determine a dependent ''variable. independent variable is typically the variable being manipulated or changed and the dependent variable is the observed result of the independent variable being manipulated.'''''' Example; In price and sales relationship one can manipulate price to check its effect on sales, so sale is dependent and price is independent variable.
What Distinction between price elastic and price inelastic?
Elasticity is "a measure of responsiveness that tells us how a dependent variable such as a quantity responds to a change in an independent variable such as price." Basically, that means that elastic product's demand is affected by price and an inelastic product's demand is unaffected by price.For example: if a product is elastic, the price goes up and demand goes down, or the price goes down and demand goes up. Examples are electronics, candy and junk food, and even cars.If a product is inelastic, the demand will stay the same no matter the price. Examples are medical supplies.
When Quantity demanded is dependent on price then why independent variable price is on y axis in graph?
price is dependent or independent?quantity
What is the key variable affecting demand?
price
The key variable affecting demand is?
price
If the elasticity of demand for a good at a certain price is greater than One we describe demand as?
Variable
Is a dependent variable always dependent on an independent variable?
yes. usually you will work with an equal amount of dependent and independent variables. (ie, one dependent variable for every independent variable, and such that there is some kind of relationship between each..) If only. Usually a variable depends on many other variables. Such as, the price of a house depends on its size, number of rooms, distance to schools, age, windows etc.
What is the meaning of elastricity demand?
The term elasticity indicates responsiveness of one variable to change in other variable.For e.g.,when variable x responds to change in variable y,variable x is said to be elastic.Likewise,demand is said to be elastic if it responds to change in price. There are three main determinants of demand,they are price of the commodity,income of the consumers,and price of the related goods.Thus,elasticity of demand means responsiveness of demand due to change in price of the commodity,income of the consumer,and price of the related gooods. Or you can say that,it measures the degree of change in the quantity demanded of the commodity in response to a given change in price of the commodity,change in consumer's income or price of the related goods. Accordingly,there are three main type of elasticities of demand: 1. Price elasticity of demand: Price elasticity of demand measures the responsiveness of demand for a commodity due to change in it's price. 2. Income elasticity of demand: It indicates the responsiveness of demand to change in consumer's income.It is the degree of change of demand to a change in consumer's income. 3. Cross elasticity of demand: It refers to change in quantity demanded of commodity x as a result of changes in the price of commodity y. Here, x and y can be either substitute goods or complementary goods).
