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Do people make decisions in their daily lives that influence supply and demand?
Wiki User
∙ 13y ago
is that price and supply tend to follow demand. is that price and supply tend to follow demand.
Wiki User
∙ 15y ago
Wiki User
∙ 12y agoIt would be more correct to say that 'the people,' by their purchasing power, actually create the law of supply and demand.
Wiki User
∙ 13y agoYes, every time you decide to (or not to) purchase something you are 'demanding' that something be 'supplied' to you.
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How does scarcity impact economic decisions?
Supply and demand. When the supply is low the price usually goes up.
How can consumers influence or affect the price of goods or services?
supply and demand. If more people want it, it is in greater demand thus the price is more; if less people want it, the opposite is true.
In a free market economy decisions are made according to what laws?
supply and demand
Which of these describes a market economic system?
Economic decisions are based on supply and demand. A+
What factors influence supply others than price?
demand of the product
What is market in economic?
Market in Economic is based on supply and demand, and how it influence a business's investment, production and distribution decisions.
The most important influence on supply is?
The answer choices for this question weren't provided. But the most important influence on supply is demand. Supply and demand is an economic model of price determination in a market.
How does scarcity impact economic decisions?
Supply and demand. When the supply is low the price usually goes up.
How can consumers influence or affect the price of goods or services?
supply and demand. If more people want it, it is in greater demand thus the price is more; if less people want it, the opposite is true.
In a free market economy decisions are made according to what laws?
supply and demand
Which of these describes a market economic system?
Economic decisions are based on supply and demand. A+
What factors influence supply others than price?
demand of the product
What is the name given to the organized decisions of distributing limited resources among unlimited needs and wants?
is the name given to the organized decisions of distributing limited resources among unlimited needs and wants
What is a true market economy?
Supply and demand influences the economic decisions of businesses and individuals.
How can consumer tastes and preferences influence demand?
consumer buying increases demand when the supply begins to drop the demand goes up.
What are the factors that can influence demand for land labor capital entrepreneur?
Supply, demand, price, and cost would be the factors.
What factor had the greatest influence on elasticity and in elasticity of supply?
Demand from consumers.
