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Demand for one good or service that is determined by demand for another good or service is .?
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∙ 7y ago
derived demand
Reynold Berge
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Demand for one good or service that is determined by demand for another good or service is?
derived demand
What is variable demand stochastic demand deterministic demand?
stochastic demand is random demand. it is determined by predictable actions and a random element.
What determines a price of a good service?
The price and quantity are generally determined by the demand for the products, e.g the desire by consumers to purchase them. Generally, the greater the demand, the higher the price, and the greater the quantity that will be produced for sale.
Distinguish between industry demand and firm demand?
Industry demand is subject to genera economic conditions. Firm demand is determined by economic conditions and competition
What is individual demand and market demand?
Individual demand is the demand of one individual consumer in the market for a good or service.Market demand is the total combined demand of all consumers in the market for a good or service.
Demand for one good or service that is determined by demand for another good or service is?
derived demand
What is another definition for value?
It is the importance assigned to an object or service as determined by public demand.
What is the value of a good or service is determined by?
Value is determined by the demand and the supply
What is variable demand stochastic demand deterministic demand?
stochastic demand is random demand. it is determined by predictable actions and a random element.
Definition for ''law of demand''?
In economics, the law of demand states:- As the price of a good or service increases, the demand for that good or service will decrease.- As the price of a good or service decreases, the demand for that good or service will increases.
What determines a price of a good service?
The price and quantity are generally determined by the demand for the products, e.g the desire by consumers to purchase them. Generally, the greater the demand, the higher the price, and the greater the quantity that will be produced for sale.
What is stagnant demand?
Stagnant demand is when there is little to no increase in the demand for a certain product or service
Distinguish between industry demand and firm demand?
Industry demand is subject to genera economic conditions. Firm demand is determined by economic conditions and competition
What is individual demand and market demand?
Individual demand is the demand of one individual consumer in the market for a good or service.Market demand is the total combined demand of all consumers in the market for a good or service.
How are prices determined under a free-trade system?
I got supply & demand from another website somewhere
What is social demand?
Social demand refers to the collective desire or need for a particular product, service, or issue within a society. It represents the level of interest or demand that exists among individuals or groups to address a common societal challenge or meet a shared goal. Understanding social demand is crucial for organizations and policymakers to develop effective solutions and strategies that align with the needs and concerns of society.
Is characterized by the unregulated exchange of service and goods?
A free market is a market where prices are determined by supply and demand. Free markets contrast with controlled markets in which prices, supply or demand id directly controlled.
