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How do buyers and sellers determine prices?
Buyers don't determine prices directly unless at a lcoal market/yard sale. Sellers determine the price of an object by factors such as supply, demand, and maximum profit.
What is the struggle between buyers and sellers to get the best products at the lowest prices?
That Would Be COMPETITION
What is the role of buyers and sellers in determining market clearing prices?
The sellers will determine how much they want the product to cost to make it worth producing. Buyers will determine how much they will spend on the product.
How are prices determined in a market economy?
it is being determined that, in a market economy, if buyers and sellers meet it will do effect in prices. for example: if the number of buyers increases the price also increases. so sellers will produce more goods and services. in the same manner, if the number of buyers will declined the price will go down so sellers now will produce in constant.
How do buyers and sellers share the burden when a tax is levied on a good?
When a tax is imposed on a good, buyers and sellers typically share the burden by adjusting the price of the good. Sellers may increase the price to cover the tax, which can lead to higher prices for buyers. Buyers may also end up paying more for the good as a result of the tax. Ultimately, the burden of the tax is shared between buyers and sellers through changes in the price of the good.
How do buyers and sellers determine prices?
Buyers don't determine prices directly unless at a lcoal market/yard sale. Sellers determine the price of an object by factors such as supply, demand, and maximum profit.
What is the struggle between buyers and sellers to get the best products at the lowest prices?
That Would Be COMPETITION
What is the role of buyers and sellers in determining market clearing prices?
The sellers will determine how much they want the product to cost to make it worth producing. Buyers will determine how much they will spend on the product.
How are prices determined in a market economy?
it is being determined that, in a market economy, if buyers and sellers meet it will do effect in prices. for example: if the number of buyers increases the price also increases. so sellers will produce more goods and services. in the same manner, if the number of buyers will declined the price will go down so sellers now will produce in constant.
What is the meaning of the term reverse bidding?
The term reverse bidding refers to the concept where the role of the buyers and sellers of a typical auction is reversed. So sellers bid at lower and lower prices to acquire buyers.
How do buyers and sellers share the burden when a tax is levied on a good?
When a tax is imposed on a good, buyers and sellers typically share the burden by adjusting the price of the good. Sellers may increase the price to cover the tax, which can lead to higher prices for buyers. Buyers may also end up paying more for the good as a result of the tax. Ultimately, the burden of the tax is shared between buyers and sellers through changes in the price of the good.
What is supply and demand and how does it affect property prices?
Many buyers plus few houses available for sale means higher house prices - (a sellers market). Few buyers plus a surplus of houses for sale means lower house prices - (a buyers market).
How do prices and transactions between buyers and sellers help the economy work?
Prices and transactions between buyers and sellers facilitate the allocation of resources in an economy by reflecting supply and demand dynamics. When prices rise due to increased demand or reduced supply, it signals producers to increase output, while lower prices encourage consumption. This interaction promotes competition and innovation, ultimately driving economic growth. Additionally, it helps ensure that goods and services are distributed efficiently, matching consumer preferences with available resources.
What do bid and ask mean in currency conversion?
The bid and ask are the best prices offered by the buyers and sellers.
What country in Europe do buyers and sellers usually come to agreement on prices in order to trade?
Germany Russia and the UK
What is the communication between buyers and sellers called?
When consumers pay high prices, producers know that they are using their ___________ well.
Why market prices are better than government determined prices?
Market prices tend to an equilibrium where buyers' demand for the good is worth less than the sellers' cost of supplying the good. Put another way, buyers are willing to pay less than the amount producers are willing to accept. Government sets its prices above or below this point. If the price is above the equilibrium buyers will demand less than producers supply. On the other hand, if price is below the equilibrium sellers will supply less than buyers demand.
