answersLogoWhite

0

Why price is taken as independent?

User Avatar

Anonymous

13y ago
Updated: 8/18/2019

Price is only taken as independent in demand and supply because the quantity demanded and supplied depends upon the increase or decrease in price.

User Avatar

Wiki User

13y ago

What else can I help you with?

Related Questions

When Quantity demanded is dependent on price then why independent variable price is on y axis in graph?

price is dependent or independent?quantity


Which quantity is independent of the path taken?

Internal energy of a system is independent of the path taken, i.e., it only depends on the initial and final states of the system.


What is taken in during light independent reactions?

Water is taken in. Light energy is used


Is price is independent variable or dependent variable?

dependent variable


How do you figure the how much percent was taken off the original price if you only have the original price and the sale price?

Sale price/original price will give you a fraction. The fraction x100 gives you the percentage that the sale price is of the original price.100-(that percentage) gives the percent taken off.


What happened when Ethiopia was taken over?

Ethiopia have never been taken it is one of the two African independent country


What is the time taken to become independent for a dog?

4-8 months.


What is time taken to become independent for a dog?

4-8 months.


What is the time taken to become independent for cat?

5-6 months


What is the time taken to become independent for a cat?

5-6 months


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.


How Price is independent variable?

Price is considered an independent variable in economic contexts because it can influence the quantity demanded or supplied of a good or service without being affected by those quantities. Changes in price can lead to shifts in consumer behavior and market dynamics, allowing researchers and analysts to assess relationships between price and demand or supply. By isolating price as an independent variable, economists can better understand its impact on market outcomes.