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Why do people buy more of something at lower prices and less at higher prices?
Wiki User
∙ 12y ago
the law of demand. an inverse relationship between the quantity demanded and the price of the product (the lower the price the higher the quantity demanded).
Wiki User
∙ 12y ago
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What is the income tax today?
I think that the income tax today is higher for richer people and lower for poorer people. So people who make more money is going to have higher taxes then people who make less. Am I right?
Which inventory method FIFO or LIFO would be preferred for income tax purposes in periods of rising prices?
In a period of rising prices, your most recently purchased inventory would have the highest value. Therefore, using LIFO would result in a higher Cost of Goods Sold, a lower Net Income and a lower income tax liability.
Why is it important for a business to know about all its costs?
•Lower costs mean higher profit. •They show managers are efficient. •If costs are kept down, more money can be spent (invested) to improve the business. •If you can lower costs, you can lower prices and sales will increase. •The business must know what its costs are in order to cut them. •If costs are high it shows the business is wasting money.
What is the advantage of accelerated depreciation?
Accelerated depreciation allows a company to take a higher upfront depreciation expense. Higher depreciation means a lower profit, and lower taxes to pay.
Why is it advantageous to have a high inventory turnover?
can sell at lower prices and still make good profit
What is a negative inflation rate?
when prices are not getting higher but lower.
How do you lower gas prices?
you can lower gas prices by asking people to sign a petition
Give two examples of how you have observed the law of demand at work in the real world?
Pricing promotions leading to higher demand: When a product goes on sale or is discounted, consumers tend to buy more of it, demonstrating the law of demand in action. Price increases resulting in decreased sales: If the price of a good or service increases significantly, consumers may choose to purchase less of it, illustrating the inverse relationship between price and quantity demanded as per the law of demand.
Did gas prices go higher or lower during the last year?
the gas prices went higher some places are almost $4.00.....
What was one result of the boom on farm production in the 1870?
Crop prices went down because of the boom in farm production in the 1870s.
Does quality means higher prices?
some times not all the time somtimes it meens lower prices
Can inflation lead to lower interest rates and higher stock prices?
False
What is the difference in price effect and a change in demand?
price effect is the inclination of people to buy less of something at higher price than they would buy at lower prices. a change in demand if the entire line of demand must move or shift.
What do people use an inclined plane for?
An inclined plane is useful for rolling something (such as a wheelchair) to a higher or lower level.
What do people use inclined plane for?
An inclined plane is useful for rolling something (such as a wheelchair) to a higher or lower level.
How do you get more gaia gold faster?
Booty Grabbing. Or trying to buy something for cheap on the marketplace and wait till the prices will go higher! Or bid on something for a lower price then the lowest price. Good luck
How much does a used ipod cost?
The higher the gb, the higher the price. Here are all of the prices for all ipod touches:8gb: $22932gb: $29964gb: $399Most stores have lower prices such as Walmart, Target, or Best Buy. You can also purchase them online for lower prices Such as eBay or Amazon.
