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What else can I help you with?
Why market equilibrium is said to be highly unstable one?
cause in real life market never remains at equilibrium, many factors affect market price and quantity
How can law of demand and supply help you in your economic life?
As a consumer, the law of supply and demand affects our everyday life. The food we eat are subject to the same law, that at higher prices, producers are willing to offer more products for sale than at lower prices. We can only substitute the brand or prefer the lower price if there is no change in quality.
What is price elasticity of demand for life saving drugs?
It would be inelastic because people will pay almost any price for life-saving drugs.
How would a block on the trade of these goods affect your life?
A block on the trade of essential goods would likely lead to shortages, increasing prices and making everyday items less accessible. This could strain my budget, forcing me to prioritize basic needs over discretionary spending. Additionally, it might disrupt supply chains, resulting in delays or unavailability of certain products, which would affect my daily routine and overall quality of life.
What are examples of inelastic goods?
Inelastic goods are those that we have to buy no matter what the price goes up to. For example gasoline, we can cut back but we have to have the gasoline at some point for our cars. Heating oil for our homes is another example. When there is no substitute for a product and it is necessary for everyday life it is inelastic. How about health care? Can we survive without a heart transplant, or a life saving operation?
Hoqw does petroleum oil help us in your everyday life?
How does petroleum oil help us in our everyday lives
How numbers affect your life?
cit is in bills you pay or in accounting the price you pay for something math is in our everyday life. it's good to know.
How does revolution affect everyday life?
it dosen't
How does the Torah affect everyday life?
It provides guidelines and rules for everyday conduct.
How did the cell phone affect everyday life or behavior of people?
it can affect an persons everyday life because to much technology can cause a persons eye sight
How does math affect your health?
no , you will use it everyday of your life
How are averages used in everyday life?
Averages are used in everyday life when you are doing your shopping and you need to find out the average price of an item. That way, you will be able to know which shops might do that item for a cheaper price.
How does a disability affect a persons everyday life?
It can make a person discriminated and harmed.
How does measles affect a persons everyday life?
killed off a bunch of people
How do hairstyles affect everyday life?
Hairstyles tell other people about the persons aditude
How does some else sexuality affects your personal everyday life?
It shouldn't affect you at all.
How does dwarfism affect a persons everyday life?
it makes you extremly short causing everyone to laugh at you
