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The law of supply and demand states that if more people are to buy stuff such as clothing and food then the prices will go up. This law was put into order when the United States won over California from the Spanish. The gold was discovered and many people from all across the country came to make money. However by the time they wanted to go back home, few had made any profit, most left with less than they came to California with. People didn't just come from the United States they also came from places like China and Peru, Mexico, Spain, and other countries.
What else can I help you with?
What does the equillibrium point on a supply and demand graph represent?
which is true about the functional relationship shown in the graph
Surplus is an excess of production or supply over demand. True or False?
True
Is it true that In economics the price rise when demand exceeds supply?
Yes
How does the market theory of wage determination reflect the forces of supply and demand?
True
What is a true market economy?
Supply and demand influences the economic decisions of businesses and individuals.
What does the equillibrium point on a supply and demand graph represent?
which is true about the functional relationship shown in the graph
Surplus is an excess of production or supply over demand. True or False?
True
Is it true that In economics the price rise when demand exceeds supply?
Yes
How does the market theory of wage determination reflect the forces of supply and demand?
True
What is a true market economy?
Supply and demand influences the economic decisions of businesses and individuals.
The interaction of the producer and the consumer establishes a price?
Yes, the interaction of supply and demand between producers and consumers determines the equilibrium price of a good or service in the market. When supply exceeds demand, prices tend to fall, and when demand exceeds supply, prices tend to rise until an equilibrium is reached where both parties are satisfied.
For a given increase in supply the slope of both demand curve and supply curve affect the change in equilibrium quantity Is this statement true or false Explain with diagrams?
For a given increase in supply the slope of both demand curve and supply curve affect the change in equilibrium quantity Is this statement true or false Explain with diagrams?
If the supply of workers and demand for workers is at an equilbrium what would be true?
there is no pressure to raise or lower wages.
When there is surplus prices tend to rises true or false?
do the equilibruim have to change for the supply or demand change
Is The aggregate demand curve downward sloping for the same reason that the demand curve for a single good is downward sloping?
true because it is still supply and demand downward sloping
Why does a demand curve downwards from left to right?
A demand curve slopes downward left to right because the relationship between price and demand is negative - as price drops demand rises. The opposite is true for a supply curve where as price rises supply rises - the relationship is positive so the supply curve slopes upward from left to right. Nova net answer- because demand decreases as price increases
What happens to prices in a free competitive market?
In a free competitive market, prices are determined by supply and demand. When demand for a product or service is high and supply is limited, prices tend to increase. Conversely, when demand is low and supply is abundant, prices tend to decrease. This dynamic process of supply and demand helps to ensure that prices in a free competitive market are set at a level that reflects the true value of goods and services.
