0
Does the demand for a product in general tend to be more inelastic than the demand for that product from a particular supplier?
Wiki User
∙ 16y ago
no, product demand in general tends to be more elastic because there are more options the consumer can choose from. demand for the product in general allow for the principle of "substitution" to be used by the consumer. if one producers price is too high then the customer will be able to shop around for the best price available for that product. demand from a singular supplier is more price sensitive, and with demand being inversely related to price and increase in price negatively impacts the level of demand and visa-versa
Wiki User
∙ 16y ago
Add your answer:
Earn +20 pts
Is salt an elastic or inelastic product?
Inelastic
Inelastic demand curve?
Inelastic demand means a situation in which the demand for a product does not increase or decrease correspondingly with a fall or rise in its price. From the supplier's viewpoint, this is a highly desirable situation because price and total revenue are directly related; an increase in price increases total revenue despite a fall in the quantity demanded. An example of a product with inelastic demand is gasoline. Refer to link below.
A product that has few substitutes tends to be?
Inelastic
What is inelastic?
Inelastic is something which is not flexible. You cannot stretch any inelastic product, whereas you can easily stretch the products which are flexible.There are two types of elasticities in economics.1. Elastic2. inelastic
When the price of a product rises and the total revenue of sellers increase?
You have an inelastic product.
Is salt an elastic or inelastic product?
Inelastic
Inelastic demand curve?
Inelastic demand means a situation in which the demand for a product does not increase or decrease correspondingly with a fall or rise in its price. From the supplier's viewpoint, this is a highly desirable situation because price and total revenue are directly related; an increase in price increases total revenue despite a fall in the quantity demanded. An example of a product with inelastic demand is gasoline. Refer to link below.
Is cotton elastic or inelastic product?
inelastic which means it doesnt lose its shape easily
Is supplier a common noun?
Yes, the noun 'supplier' is a common noun, a general word for a company, organization, or country that provides or sells a product or a service.
A product that has few substitutes tends to be?
Inelastic
What is inelastic?
Inelastic is something which is not flexible. You cannot stretch any inelastic product, whereas you can easily stretch the products which are flexible.There are two types of elasticities in economics.1. Elastic2. inelastic
When the price of a product rises and the total revenue of sellers increase?
You have an inelastic product.
The difference between customer and supplier?
Supplier supplies product to the customer and the customer buys the product
If the prices have a little effect on the quantity of a product demanded the product is said to have?
inelastic demand
What is meant by price inelastic?
Price inelastic means that the supply or demand of a product or service is unaffected by any changes in the price.
What the scope of Supplier Invoice?
Supplier invoices represent a payable that is created when a Product is received from a Supplier.
If price changes have little effect on the quantity of a product demanded the product is said to have?
inelastic demand
