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How Can The negative relationship between the quantity demanded of a commodity and its price be explained by the principle of?
Wiki User
∙ 10y ago
Supply and Demand. When the supply of an available product goes up, the price goes down - unless the merchant can do something to increase the demand for the product as well. The "something" is generally "advertising".
If the demand for a product goes up, the price will generally also rise, which will either lower demand (fewer people want to pay the higher price) or increase supply (another merchant starts selling an equivalent product).
Wiki User
∙ 10y ago
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A demand schedule shows the relationship between the quantity demanded of a commodity over a given peiord of time and?
quantity supplied
Discuss the higher the price of the commodity the lower the quantity demanded and vice versa?
when the price of a commodity is high,consumers will go for another product almost the same as the one that the price is high,so that makes the quantity demanded of the commodity that the price low and vice versa
If price rises from 15 to 25 and quantity demanded falls from 20 to 10 units this commodity would have what demand?
increased demand
What is autonomous demand?
When a particular commodity is demanded for its own sake it is known as autonomous demand. Demand for house is an example for autonomous demand.
Market demand curve?
the market demand curve is the curve related to the demand of the commodity demanded by the group of people to the at different price.
The negative relationship between the quantity demanded of a commodity and its price can be explained by the principle of?
true
A demand schedule shows the relationship between the quantity demanded of a commodity over a given peiord of time and?
quantity supplied
What is the principle of demand?
The law of demand states that all other things being equal, as the price of a commodity falls quantity demanded increases and vice versa.
Discuss the higher the price of the commodity the lower the quantity demanded and vice versa?
when the price of a commodity is high,consumers will go for another product almost the same as the one that the price is high,so that makes the quantity demanded of the commodity that the price low and vice versa
Market demand curve?
the market demand curve is the curve related to the demand of the commodity demanded by the group of people to the at different price.
If price rises from 15 to 25 and quantity demanded falls from 20 to 10 units this commodity would have what demand?
increased demand
What is autonomous demand?
When a particular commodity is demanded for its own sake it is known as autonomous demand. Demand for house is an example for autonomous demand.
What are the three characteristics of the demand curve?
Characterstics of demand curve are-- 1) It is a curve from left to right 2) It shows the quantity demanded and price of a commodity 3) Higher the price lesser is the quantity demanded and vice-versa
What determine price?
The price determinates are the factors that will determine the price of a particular commodity, These factors are quantity supplied, quantity demanded and the cost of production.
What is price determinant?
The price determinates are the factors that will determine the price of a particular commodity, These factors are quantity supplied, quantity demanded and the cost of production.
Is demanded abstract noun?
Yes, the noun 'demand' is an abstractnoun; an urgent requirement or request; the amount of a commodity that consumers are willing and able to purchase; a word for a concept.The word 'demand' is also a verb: demand, demands, demanding, demanded
The relationship between quantity demanded and price is direct or inverse?
direct
