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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 $$$$$
The price of a product is the amount of money exchanged for the good what determines the price of these goods?
The price of any product is determined by the laws of demand and supply.
What is supplyand demand?
Supply is the amount of a product that companies are manufacturing. Demand is the amount of a product that customers wish to purchase. When people talk about supply and demand they normally refer to supply and demand curves, and where they intersect is the market equilibrium price and quantity of the product offered. As price increases, companies will want to supply more of a product to make more money, but customers will demand less because they are less willing to pay higher prices for a product. (By product, I mean good and services)
Explain the concepts of demand and supply?
if price of input for any product good is influence by
How would lack of product affect supply and demand?
A lack of product (a.k.a. a shortage) would primarily cause an increase in the price of the good or service. An increased price means more supply, but it also means less demand.
What is the process of the availability of the good compare to the number of people who want to buy the product known?
supply and demand
What happens to the price of a good when supply is high but demand is low?
the price of the product gose downaka less $$$$$
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.
Explain briefly what is demand and supply curve?
Supply and demand is perhaps one of the most fundamental concepts of economics and it is the backbone of a market economy. Demand refers to how much quantity of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand relationship. Supply represents how much the market can offer. The quantity supplied refers to the amount of a certain good producers are willing to supply when receiving a certain price. The correlation between price and how much of a good or service is supplied to the market is known as the supply relationship. Price, therefore, is a reflection of supply and demand.
What is the difference between price and supply?
if the supply is low and the demand is high, then the price of the good will be high. if there is high supply but low demand, then the price will be low. the price of a good or service is determined by the relationship between supply and demand. look for any basic macro or micro economics books and it should give you a very good explanation on the subject also pay attention to the graphs of supply and demand and you will get a better understanding of the relationship between supply and demand.
What happens when demand of a good Increases?
Given supply, if demand of any good increases it raises the prices of the good.
What is needed to determine equilibrium price of a good or a service?
a supply curve and a demand curveA supply curve and a demand curve.
