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What mechanisms allocate resources when the price of a good is not allowed to bring supply and demand into equilibrium?
HAHA...well i am too trying to answer that question in the Mankiew book...good luck! lol
How supply and demand affect prices of products and services?
Supply and demand influence market price in various ways. The best known way is when demand is high the price of supply tends to go up. When there is a large amount of supply and demand is low or normal the price of supply tends to go down.
Which mechanims allocate resources when the price of a good is not allowed to bring suppy and demand into equilibrium?
When the price of a good is not allowed to bring supply and demand into equilibrium, some alternative mechanism must allocate resources. If quantity supplied exceeds quantity demanded, so that there is a surplus of a good as in the case of a binding price floor, sellers may try to appeal to the personal biases of the buyers. If quantity demanded exceeds quantity supplied, so that there is a shortage of a good as in the case of a binding price ceiling, sellers can ration the good according to their personal biases, or make buyers wait in line.
Which of the following adjusts to bring aggregate supply and demand into balance?
The price level and real output.
How do changes in demand and supply bring about changes in market-clearing prices?
demand and supply are continually changing, causing some market-clearing prices to rise and some to fall; however these higher and lower prices cause some businesses in our economy to expand and others to contract.
What mechanisms allocate resources when the price of a good is not allowed to bring supply and demand into equilibrium?
HAHA...well i am too trying to answer that question in the Mankiew book...good luck! lol
How supply and demand affect prices of products and services?
Supply and demand influence market price in various ways. The best known way is when demand is high the price of supply tends to go up. When there is a large amount of supply and demand is low or normal the price of supply tends to go down.
Which mechanims allocate resources when the price of a good is not allowed to bring suppy and demand into equilibrium?
When the price of a good is not allowed to bring supply and demand into equilibrium, some alternative mechanism must allocate resources. If quantity supplied exceeds quantity demanded, so that there is a surplus of a good as in the case of a binding price floor, sellers may try to appeal to the personal biases of the buyers. If quantity demanded exceeds quantity supplied, so that there is a shortage of a good as in the case of a binding price ceiling, sellers can ration the good according to their personal biases, or make buyers wait in line.
Which of the following adjusts to bring aggregate supply and demand into balance?
The price level and real output.
What is an equipoise?
An equipoise is a state of balance or equilibrium, or a counterbalance which helps to bring about equilibrium.
Define a market and identify and explain how various market forces would determine the price of a product or service?
If we bring together the supply and demand curves onto one diagram, we find that they intersect at only one price. This is the market or equilibrium price. Only at this price is the quantity demanded equally to the quantity supplied. The equilibrium or market price is arrived at by a gradual process. If trading takes place at prices other than the market price, there will be either a shortage or a surplus, which will cause the price to move until it settles at the equilibrium level.
How do changes in demand and supply bring about changes in market-clearing prices?
demand and supply are continually changing, causing some market-clearing prices to rise and some to fall; however these higher and lower prices cause some businesses in our economy to expand and others to contract.
What the definition of synchro marketing?
Synchromarketing marketing activity intended to shift the pattern of demand to that it equates more suitably with the ideal pattern of supply. Marketing efforts aimed at trying to bring inconsistent or seasonal demand levels in synch with supply levels. Restaurants use early-bird dinner specials to bring in customers during the slow period between normal lunch and dinner hours. Ski resorts promote summer activities and festivals to bring in tourists during the summer months.
Which transport mechanism can bring whole cells into a cell?
none
What is the meaning of 'Bring to book'?
To bring to book : To demand an explanation form/call to account
What would you bring with you to a land you knew nothing about?
When travelling, all one needs is something that anyone in the world always needs; money (or something of value that is used in that part of the world). Always think, supply & demand.
How is the force of gravity involved in the motion of a pendulum use the words equilibrium and retoring force in your answer?
Restoring force, in a physics context, is a variable force that gives rise to an equilibrium in a physical system. If the system is perturbed away from the equilibrium, the restoring force will tend to bring the system back toward equilibrium.
