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Assuming you mean price of supplies: Finding ways to optimize the processes and making production more efficient and less costly. Or the good old staff lay offs.
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Does the changing of petrol price affect the rate of inflation?
The changing of petrol price affects the rate of inflation. When petrol price increases, it follows that the cost of production and transportation of most goods also increase.
According to Adam Smith what will happen when the demand of a good increases?
The price decreases.
What shows an economy's production after the distortions of price increases have been removed?
the business cycle
Explain how a change in price affects the demand for a product substitutes?
The change in price can affect the demand for that product. If the price increases people will look for cheaper substitutes.
Supply curves are positively sloped because?
The Supply Curve has a positive slope because as the selling price of the product increases, the willingness of producers to create that product increases as well. With the greater incentive to make that product, production will rise in direct proportion to how much price increases.
How do technologies affect our economic decisions?
the consumer economic decisions can affect the price and supply of a commodity
Does the changing of petrol price affect the rate of inflation?
The changing of petrol price affects the rate of inflation. When petrol price increases, it follows that the cost of production and transportation of most goods also increase.
According to Adam Smith what will happen when the demand of a good increases?
The price decreases.
How does pricing affect product decisions?
Assuming you mean price of supplies: Finding ways to optimize the processes and making production more efficient and less costly. Or the good old staff lay offs.
When the price of a capital good increases what happens to the price of related consumer goods and services?
Prices increase due to the increase in production costs.
What shows an economy's production after the distortions of price increases have been removed?
the business cycle
Explain how a change in price affects the demand for a product substitutes?
The change in price can affect the demand for that product. If the price increases people will look for cheaper substitutes.
Supply curves are positively sloped because?
The Supply Curve has a positive slope because as the selling price of the product increases, the willingness of producers to create that product increases as well. With the greater incentive to make that product, production will rise in direct proportion to how much price increases.
How does customers affect pricing decisions?
Price is not often the decision! Customers rarely make decisions based only the price but on the precieved value. If the goods or service is poor or inaproppriate the apparent reason stated maybe price but there is often no value attached to the goods by the customer.
Do tariffs affect consumers who purchase only domestically produced products?
Tariffs only directly affect imported goods, but they will indirectly affect domestically produced products because the demand for domestically produced products will increase as the price of imported goods increases. When the demand of domestically produced products increases, the price of these products can also increase.
How do international sanctions tariffs quotas and trade restrictions affect international trade and costs of production?
International sanctions make it difficult for certain goods to enter the international stream of commerce. This leads to a scarcity of these goods, and increases their price on the global market.
When the price of a capital good increases what happens to the prices of related consumer goods and services Why?
Prices increase due to the increase in production costs.
