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Market demand for particular good or service = number of goods or services that will be sold at a given price.
For instance, in a small town the demand for designer cologne at $30 might be 25 bottles... at $40 it might be 10 bottles and at $10 it might be 70 bottles.
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How are wages determined in a free market?
by the laws of supply and demand
In what type of system is the price determined by supply and demand?
the market system!!!!
Flexible exchange rates are determined by?
By the demand and supply of currencies in the global exchange market.
How are prices established in the foreign-exchange market?
As in all other market, prices of the currencies pairs are determined by the supply and demand of the market. When the demand is higher than the supply the price increases and vice versa.
What is a market interest rate?
The market interest rate is the rate of interest on cash deposits or loan which is determined by the market. Factors such as demand and supply of cash in the market
How can price be determined in a free market economy?
In a perfect free-market economy, price is determined by supply and demand.
Change in market price?
Changes in the market price is determined by demand of a product. If consumers demand the product, then the price will increase.
How are wages determined in a free market?
by the laws of supply and demand
In what type of system is the price determined by supply and demand?
the market system!!!!
Flexible exchange rates are determined by?
By the demand and supply of currencies in the global exchange market.
How are prices established in the foreign-exchange market?
As in all other market, prices of the currencies pairs are determined by the supply and demand of the market. When the demand is higher than the supply the price increases and vice versa.
What is a market interest rate?
The market interest rate is the rate of interest on cash deposits or loan which is determined by the market. Factors such as demand and supply of cash in the market
Is England an planned economy?
No, the UK is a Market economy. A market economy is one in which in which the prices of goods and services are determined by supply and demand.
Is price determined by interaction of total demand and total supply in market under perfect competition?
Yes
What is characterized by the unregulated exchange of services and goods.?
A free market is a market where prices are determined by supply and demand. Free markets contrast with controlled markets in which prices, supply or demand id directly controlled.
Is characterized by the unregulated exchange of service and goods?
A free market is a market where prices are determined by supply and demand. Free markets contrast with controlled markets in which prices, supply or demand id directly controlled.
How does the market economy function?
Market economy functions under the price mechanism. Prices of goods and serviced are determined by the interaction of demand and supply forces.
