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Would it take longer for a labor market to move to a new equilibrium for house painters or architects?
Compared to other sectors of the economy, house painters, architects, and anyone else who relies on the construction sector being strong (house building suppliers, subcontractors, etc) will take longer to recover from the economic downturn.
This is due to two reasons:
1) House painters/architects/other sub-contractors are what you could call secondary market movers. They do not drive the construction sector but rather depend on home builders/construction companies/etc to provide work for them. Because the primary market movers are having a tough time (due to the economy being down), the secondary movers will take longer to recover.
2) This one applies largely to painters. Since current economic conditions have hurt homeowners, many are holding back in purchasing non-essential goods and services. To a large extend, painting is a non-essential service (ie you can wait a year or two to get your home painted). Thus, many homeowners are holding back on purchasing house painting services.
What else can I help you with?
Who are the most expensive Cuban Painters in history?
The most expensive Cuban painters in history include Wifredo Lam, whose works have fetched high prices at auctions, and Carlos Alfonzo, known for his impactful and expressive style. Another notable figure is Tomás Sánchez, whose intricate landscapes have also seen significant market demand. These artists have gained international acclaim, contributing to their high valuation in the art market.
What is wrong with the instrument panel lights on your 2001 Silverado no longer work ever since you connected the dimmer cable on an after market stereo?
Check ALL of the fuses and connections on the fuse pannel.
What is the adjective form of market?
Although the word market is usually a noun or a verb, market can be used as an adjective, such as market price or market square. Another form of adjective is marketable.
Are auto manufacturers required to provide replacement parts for cars they no longer produce please elaborate?
auto manufacturers are only required to produce parts for a couple of years after models go out of production, however you can buy after market parts for most vehicles
Which country's foreign market is known as 'Rembrandt Market'?
The Netherlands
What is Market equilibrium?
Market equilibrium is this situation when market demand is equal of market supply
Why will market equilibrium be re-established once disturbed?
It was found experimentally that Market has to re-establish Equilibrium via Market mechanism. Such that Market equilibrium is a desired status in the market where both suppliers and Consumers will tend re-establish market equilibrium (through demand & Supply) undeliberately.
Equilibrium and economies scale in market economy?
Equilibrium and economies scale in market economy
Example of market equilibrium?
Market equilibrium is when the demand of the product and the supply of the product is equal. If either demand or supply changes, then the equilibrium adjusts.
What are the differences between a market in equilibrium and a market in disequilibrium?
equilibrium is the responsiveness of quantity demand to a change in price.
What is the impact of a shortage on the equilibrium price and quantity in an economic market?
A shortage in an economic market leads to an increase in the equilibrium price and a decrease in the equilibrium quantity.
Where is the price ceiling located on a graph depicting market equilibrium?
The price ceiling is located below the equilibrium price on a graph depicting market equilibrium.
Explain how equilibrium in international market can be achieved and what factors can influencing its equilibrium?
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When is a market in equilibrium?
In elementary economics equilibrium is the intersection between the supply and demand curves. When quantity supplied is said to equal quantity demanded the market has then reached equilibrium.
When a market operates so that there are no shortages and no surplusesthen the market is?
At equilibrium.
Why market equilibrium is said to be highly unstable one?
cause in real life market never remains at equilibrium, many factors affect market price and quantity
How to find the equilibrium quantity in a market?
To find the equilibrium quantity in a market, you need to identify the point where the quantity demanded by consumers equals the quantity supplied by producers. This is where the market reaches a balance, or equilibrium. The equilibrium quantity can be determined by analyzing the demand and supply curves for the product or service in question.
