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Eggs are a good supply and demand product because they have consistent consumer demand due to their versatility, nutritional value, and affordability. Their production can be adjusted relatively quickly in response to market conditions, allowing suppliers to meet changing demand effectively. Additionally, eggs have a long shelf life, which helps stabilize prices and availability, making them a staple in many households. This balance between supply responsiveness and steady demand contributes to their status as a reliable commodity in the market.
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What is supplyand demand?
Supply is the amount of a product that companies are manufacturing. Demand is the amount of a product that customers wish to purchase. When people talk about supply and demand they normally refer to supply and demand curves, and where they intersect is the market equilibrium price and quantity of the product offered. As price increases, companies will want to supply more of a product to make more money, but customers will demand less because they are less willing to pay higher prices for a product. (By product, I mean good and services)
Explain the concepts of demand and supply?
if price of input for any product good is influence by
How would lack of product affect supply and demand?
A lack of product (a.k.a. a shortage) would primarily cause an increase in the price of the good or service. An increased price means more supply, but it also means less demand.
What happens to the price of a good when supply is high but demand is low?
the price of the product gose downaka less $$$$$
What is the law pf supply and demand?
The law of supply and demand is a fundamental economic principle that describes the relationship between the availability of a product (supply) and the desire for that product (demand). According to this law, when demand for a good increases while supply remains constant, prices tend to rise. Conversely, if supply increases and demand remains constant, prices are likely to fall. This interaction helps determine the market equilibrium price, where the quantity supplied equals the quantity demanded.
What is supplyand demand?
Supply is the amount of a product that companies are manufacturing. Demand is the amount of a product that customers wish to purchase. When people talk about supply and demand they normally refer to supply and demand curves, and where they intersect is the market equilibrium price and quantity of the product offered. As price increases, companies will want to supply more of a product to make more money, but customers will demand less because they are less willing to pay higher prices for a product. (By product, I mean good and services)
Explain the concepts of demand and supply?
if price of input for any product good is influence by
How would lack of product affect supply and demand?
A lack of product (a.k.a. a shortage) would primarily cause an increase in the price of the good or service. An increased price means more supply, but it also means less demand.
What happens to the price of a good when supply is high but demand is low?
the price of the product gose downaka less $$$$$
What is the process of the availability of the good compare to the number of people who want to buy the product known?
supply and demand
What is the law pf supply and demand?
The law of supply and demand is a fundamental economic principle that describes the relationship between the availability of a product (supply) and the desire for that product (demand). According to this law, when demand for a good increases while supply remains constant, prices tend to rise. Conversely, if supply increases and demand remains constant, prices are likely to fall. This interaction helps determine the market equilibrium price, where the quantity supplied equals the quantity demanded.
The price of a product is the amount of money exchanged for the good what determines the price of these goods?
The price of any product is determined by the laws of demand and supply.
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.
How price affects the product?
The price will surely affect the sale of the product, if I can get the same item at a cheaper tate , and if it is equally good Then as I an going to buy it, so will many others. The sale of the costly object will be less sold.
What happens to the price of a good or service when there is excess demand?
When there is excess demand for a good or service, the price typically increases. This is because the high demand creates a scarcity of the product, leading sellers to raise prices to balance supply and demand.
What is the relationship between a complimentary good and the demand for the main product?
A complimentary good is a product that is typically used together with another product. The demand for the main product is positively affected by the demand for its complimentary good. When the demand for the complimentary good increases, it can lead to an increase in the demand for the main product as well.
What determines the price of a good or service in the market?
The price of a good or service in the market is determined by the interaction of supply and demand. When demand for a product is high and supply is limited, prices tend to rise. Conversely, when supply is high and demand is low, prices tend to fall. Other factors such as production costs, competition, and government regulations can also influence pricing.
