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According to the law of supply What does an increase in the price of a good service or resource lead to an increase in?
Wiki User
∙ 15y ago
Supply. If you are a supplier of a good - the price for your good increase - you will produce more to take advantage of this
Wiki User
∙ 15y ago
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If a supply-demand curve were applied to basic resource?
Their prices would increase.
What is the price effect according to the law of supply?
The law of supply says; The supply will be increase due to increase in price and vice versa. The reason is that the seller will maximize his profit.
What is Increase Supply?
Increase Supply means to have more of a specific supply on hand.
Is An increase in supply is represented by a movement up the supply curve?
An increase in the supply is not represented by a movement up the supply cuve. A movement up supply curve is due to the increase in quantity supplied instead of the increase in supply. Alternatively, it can also be due to increase in the price of the goods that could lead to movement up the supply curve.
Supply side economics of Ronald Reagan?
the supply of goods and service's would increase
How can an organization increase its human resource supply?
An organization can increase its human resource supply by assessing the company and planning to hire more employees. By looking at the skill and overall productivity of the current employees and seeing if different hires can be more productive.
If a supply-demand curve were applied to basic resource?
Their prices would increase.
What is the price effect according to the law of supply?
The law of supply says; The supply will be increase due to increase in price and vice versa. The reason is that the seller will maximize his profit.
Who are the players in supply chain management?
Suppliers besides supplier's resource like channel which they follow according to that manpower.
Who set the price for gold?
Everyone. Gold has no set price, just a market price based on supply and demand. It has to do with the cost of production (Finding it) and the demand. Price is always high, as it is a scarce resource. When we run out of its supply, the demand will increase and the price will increase majorly.
What is Increase Supply?
Increase Supply means to have more of a specific supply on hand.
What are the causes of imflation?
The causes of inflation include the rise in the supply and demand of a product or service and an increase in wages/salaries.
Is An increase in supply is represented by a movement up the supply curve?
An increase in the supply is not represented by a movement up the supply cuve. A movement up supply curve is due to the increase in quantity supplied instead of the increase in supply. Alternatively, it can also be due to increase in the price of the goods that could lead to movement up the supply curve.
What is observed when demand exceeds supply?
Typically, a shortage of the product/service will result with the resultant outcome being an increase in price.
What will happen when the demand for a product increases according to Adam Smith?
Supply increases.
Supply side economics of Ronald Reagan?
the supply of goods and service's would increase
What is HR and give an example of human resource?
HR, or Human Resources, is the department within an organization responsible for managing employees and handling tasks related to employee relations, training, recruitment, and payroll. An example of a human resource could be an HR manager conducting interviews to hire new employees for a company.
