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How does the change in weather or season affect the demand of a product?
AliyahHethcoatfb1970
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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.
What are the factors affecting Demand and supply of goods?
price is the main factor which affect demand and supply and other factors which affect demand and supply are change in income weather change living standard of people alternative things superior to inferior
Total expenditures are determined by what?
Dividing the change in demand for the product by its change in price. e=(change in demand)%/(change in price)%
How does an increase in a products price affect demand for the demand for the product's complements?
It can affect demand because of individual low income earner.
What are two product changes that affect demand?
. Do changing demands affect production?
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.
What are the factors affecting Demand and supply of goods?
price is the main factor which affect demand and supply and other factors which affect demand and supply are change in income weather change living standard of people alternative things superior to inferior
Total expenditures are determined by what?
Dividing the change in demand for the product by its change in price. e=(change in demand)%/(change in price)%
How does an increase in a products price affect demand for the demand for the product's complements?
It can affect demand because of individual low income earner.
Why do heating oil prices change so frequently?
Oil prices change frequently for a number of different reasons. Crude oil is a big part of this, and will affect the price of oil. Demand can be different depending on the weather and economy. Seasons can also affect the demand for oil.
What are two product changes that affect demand?
. Do changing demands affect production?
How does supply and demand affect the price of a product?
the higher the demand the higher the price.the lower the demand the lower the price.
What is the between derived demand and joint demand?
Derived demand occurs when there is a change of customers' demand on particular product and produces have to buy new production equipment, which means that the change in consumer demand for a product affects demand for all firms involved in the production of that product. Joint demand has nothing to do with changing the production equipments. In this case, demand of the product depends on demand of its compliment. For example, demand on inc depends on demand on printers.
How changes in consumer tastes and consumer incomes affect demand?
If consumer income increases, demand will increase. If income decreases, there is less money to spend, so demand for products that are not necessary will decrease. Consumer tastes influence what products are in demand. This can change over time, so a product that is in high demand may become a low demand product and visa versa.
What is perfect elastic of demand?
A good's demand is considered perfectly inelastic when that good's demand does not change, no matter the price set. No matter how big or small the price change is. I would pay any price for air.
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 does law of demand affect the law of quantity?
It's a pretty basic concept learned in school. As more people demand a product, the availability of the product decreases. Therefore, causing the price of the product to increase with the demand.
