True, FLVS Economics!!
Price.
It does not. If you follow the demand curve it shows that as price decreases, demand increases.
the price of things has risen while your salary did not, meaning you have lesser number of items you can buy with the money you have as compared to what you could have bought before inflation.
When the price of a good or service increases, the demand for it usually decreases.
Demand is inelastic when changes the in price of a commodity do not effect (or have very little effect) the quantity of that product demanded. For most commodities, demand decreases with price increases and demand increases with price decreases.
Price.
It does not. If you follow the demand curve it shows that as price decreases, demand increases.
the price of things has risen while your salary did not, meaning you have lesser number of items you can buy with the money you have as compared to what you could have bought before inflation.
When the price of a good or service increases, the demand for it usually decreases.
standard of rich peoples...like in purchasing of gold increases when its price also increases.
Demand is inelastic when changes the in price of a commodity do not effect (or have very little effect) the quantity of that product demanded. For most commodities, demand decreases with price increases and demand increases with price decreases.
Prices normally increase as demand increases and decrease as demand decreases.
Well as demand increases the price will usually go up. As supply increases the price will usually go down. On the other hand if demand decreases the price will usually go down. If supply decreases the price will usually go up.
The price decreases.
The YTM on a Bond versus it's Price is inversely related. Thus when the Price of the Bond Increases, the YTM Decreases.
This describes the concept of the law of demand, which states that, all else being equal, as the price of a product increases, the quantity demanded by consumers decreases. Consequently, consumers will find themselves able to purchase less of the product with their fixed income. This relationship illustrates the inverse relationship between price and quantity demanded, reflecting consumers' purchasing power.
If the price of a complementary good increases, the demand for the main good typically decreases.