0
What else can I help you with?
If a strike by steelworkers raises steel prices what effect would it have supply or demand?
A strike by steelworkers that raises steel prices would primarily decrease the supply of steel, as higher prices may lead to reduced production or operational disruptions. This increase in costs could also lead to higher prices for products that use steel, potentially reducing demand for those products. Overall, the immediate effect would be a contraction in supply, with secondary impacts on demand as prices rise.
When according to the law of supply and demand when supply increases what else happens?
According to the law of supply and demand when supply increases, prices will decrease.
What does an increase in supply of an item usually mean for a consumer?
lots of supply and low demand = lower prices lots of demand and low supply = higher prices demand and supply high = normal prices demand and supply low = normal prices
How do falling prices affect supply?
The quantity demanded rises.Explanation: The lower a prize becomes the more people will want to buy that certain good no matter what the good may be.Falling prices discourage suppliers because of dwindling profits and when suppliers shy away, shortage arises as well.
When supply and demand and prices effect economic decisions?
Supply and demand are fundamental concepts that drive economic decisions by influencing prices in the market. When demand for a product increases and supply remains constant, prices tend to rise, prompting producers to increase output or new competitors to enter the market. Conversely, if supply exceeds demand, prices may fall, leading to reduced production and potential business closures. These price fluctuations guide consumers' purchasing choices and businesses' investment strategies, ultimately shaping the overall economy.
Why are British house prices so high?
Supply and demand! But they are falling now.
What intensified the debts that the plaines farmers had during the 1800?
a tight money supply high prices for new equipment falling prices for their crops
What intensified the debts that Plains farmers had during the late 1800s?
a tight money supply high prices for new equipment falling prices for their crops
What effect did the panic of 1819 on farmers?
falling agricultural prices, foreclosure of farms, and a drop in land values.
What effect did the panic of 1819 have on farmers?
falling agricultural prices, foreclosure of farms, and a drop in land values.
When according to the law of supply and demand when supply increases what else happens?
According to the law of supply and demand when supply increases, prices will decrease.
What does an increase in supply of an item usually mean for a consumer?
lots of supply and low demand = lower prices lots of demand and low supply = higher prices demand and supply high = normal prices demand and supply low = normal prices
Why crude oil prices falling?
Crude oil prices are falling because of oil shale drilling in the United States.
How do falling prices affect supply?
The quantity demanded rises.Explanation: The lower a prize becomes the more people will want to buy that certain good no matter what the good may be.Falling prices discourage suppliers because of dwindling profits and when suppliers shy away, shortage arises as well.
Explain the process of supply and demand and how prices rise and fall?
Prices will fall when the demand is much lower than the supply. When the supply is lower, there is greater demand, therefore, the prices will rise.
How do changes in supply affect prices?
When supply is plentiful, prices fall, when items are scarce, the price rises.
What happens to prices if the supply is high?
The price will skyrocket, increase, go up.
