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How might a minimum-wage law and that the supply and demand of workers?
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In a free market supply and demand determines?
The brilliant thing is that no-one has that job. The buyers determine the demand, without colluding, and the sellers determine the supply. If they get it right, demand equals supply. If demand exceeds supply, people have to queue up. People at the back might shout out that they will play a higher price, so they jump the queue and that drives the price goes up. If supply exceeds demand, some sellers might shout out that they will sell more cheaply than the rest, and that drives the price down.
Can factors that affect demand also affect supply?
yes because they might demand more oil and eventually that ceartain place will start to run out
How does the cost of resources effect supply?
If the cost to make a thing increases the price of the thing, then there might be less demand. If there is less demand, then there will be a buildup of inventory. Over time, fewer suppliers will make the good and the supply will decrease from over supply to a lower equilibrium point.
How can supply and demand of a material cause a material to become an ore?
it's not possible.
Should demand side policies always be used rather than supply side policies when a government intervenes in an economy?
If the problem in the economy is due to a lack of demand than demand-side policies would be required. If the economy is experiencing a recession, for example, then demand side policies might be appropriate. If the economy is at or near full employment then the focus might be more on increasing aggregate supply.
How do push and pull factors cause migration?
Push factors are circumstances that compel people to leave their current residence, such as political instability, economic hardship, or natural disasters, while pull factors are the attractions that draw individuals to a new location, such as job opportunities, better living conditions, or a higher quality of life. Together, these factors influence an individual's decision to migrate by creating the need or desire to seek a new home.
Relationship between demand and supply?
1:inverse relationship between supply and demand 2:supply depends upon the demand of a commodity, that it might be positive or negative. 3:supply always depends upon demand but demand never depends to supply. 4:a supply never affects the demand of a commodity but demand always affect to its supply. 5:demand is the initial stage but supply is the stage after demand. 6:supply have a positive relations to price whereas demand has a negative relations with price. 7:supply and price has a direct relations or positive relation. 8:law of supply relates to the price and supply of a particular commodity in a particular time period. 9:price has a connections with demand and supply that it affects both supply in a positive way and demand in a negative way and if price changes then both demand and supply will change. 10:demand curve shows the changes positions of demand in a different price level of a particular commodity where demand schedule also shows the changes positions of demand in a different price level of a particular commodity, hence both have a common objectives to depict the same result in a different way.
In a free market supply and demand determines?
The brilliant thing is that no-one has that job. The buyers determine the demand, without colluding, and the sellers determine the supply. If they get it right, demand equals supply. If demand exceeds supply, people have to queue up. People at the back might shout out that they will play a higher price, so they jump the queue and that drives the price goes up. If supply exceeds demand, some sellers might shout out that they will sell more cheaply than the rest, and that drives the price down.
Can factors that affect demand also affect supply?
yes because they might demand more oil and eventually that ceartain place will start to run out
How does the cost of resources effect supply?
If the cost to make a thing increases the price of the thing, then there might be less demand. If there is less demand, then there will be a buildup of inventory. Over time, fewer suppliers will make the good and the supply will decrease from over supply to a lower equilibrium point.
How can supply and demand of a material cause a material to become an ore?
it's not possible.
Should demand side policies always be used rather than supply side policies when a government intervenes in an economy?
If the problem in the economy is due to a lack of demand than demand-side policies would be required. If the economy is experiencing a recession, for example, then demand side policies might be appropriate. If the economy is at or near full employment then the focus might be more on increasing aggregate supply.
How much would you pay people that work in a water park?
In the US: The company would start with the minimum wage for the state/federal government, and then increase that wage as-needed based on the supply of workers. For positions that require greater ability, the wage would be higher in general due to a lack of workers for the position. So, pay is based on supply and demand in the current market. Jobs which are bad might actually pay more since less people want to do them. For example, the 2nd or 3rd shift might pay more to attract enough workers to the positions.
Use economic theory to explain why there might be such a range of prices in airline tickets?
Very simply - supply and demand
When the supply of goods decreases what kind of effect does it have on demand?
It doesn't have a direct effect on demand... if suddenly there were less toothpaste at the grocery store, the demand would remain the same. If the supply gets too low to meet the demand, the price will go up, and if the price goes up, that might have an effect on demand... some people will use other options besides toothpaste.
Why might collusion be detrimental to consumers?
Collusion is the basis for forming a monopoly. That inhibits the free market or the laws of supply and demand.
What best describes why the price of wheat might rise following a poor wheat harvest?
The simplest answer is the law of supply and demand. When the supply is low, the price is high and vice versa.
