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When would the price of a good most likely increase?
Prices of goods used to increase with the cost of ingredients, cost to produce them, and maybe if there was a shortage. In our times, a company that purchases a product may raise the price to the value they perceive it has.
What is the different between shortage and surplus?
A shortage is when there is a LACK (not enough) of that particular resource/product/item. A surplus is when there is EXCESS, or too much of a resource/product/item.
When demand for an item decreases and the supply increases the price of the item will likely?
The price of the item will likely decrease - as there're more stock than demand for the product.
What causes surplus and shortages?
A change in price causes both Surplus and Shortages. Surplus means in excess (having too much). For example, if a store which sold an item for 10 dollars decided to change the price to 12 dollars, most people would not want to buy that item at the new price (especially if they're used to the old price). The store would end up having too much (Surplus) of that item because nobody is buying it due to the increase in price from 10 dollars to 12 dollars. As for shortage, if the same store which sold an item for 10 dollars decided to sell that item for 8 dollars instead (it went on sale) then more people would buy the that item at a faster rate. So much faster that the store would not be able to order more in time to satisfy every customer. Resulting in a shortage (not having enough).
What is a can cutting analysis in food service?
A can cutting is a sales tool where a salesperson demonstrates the features, advantages and benefits of his/her canned item versus a competitor's canned item, likely an item a customer is presently using. The term cutting can apply to the demonstration of virtually any item; "we cut our iceberg lettuce against the competition's, and showed that we have a higher yield (amount of raw product that is useable)". Cutting originally came from cutting beef or chicken for demonstration/sales...and has derived into anything you want it to be.
Which item is MOST likely to have been rationed during World War 2?
Chocolate.
In club penguin is there a free item you can get during the April fools party?
most likely yes. when don't they have a free item. in the play awards there were three!!!
Which document should the clerk compare with the DCR to find the omitted item?
shortage annex
Which documents should the clerk compare with the DCR to find the omitted item?
shortage annex
When is an item vintage?
Vintage is basically just an old item. If, however, it is labelled vintage, people are more likely to pay more for it.
When would the price of a good most likely increase?
Prices of goods used to increase with the cost of ingredients, cost to produce them, and maybe if there was a shortage. In our times, a company that purchases a product may raise the price to the value they perceive it has.
What is the different between shortage and surplus?
A shortage is when there is a LACK (not enough) of that particular resource/product/item. A surplus is when there is EXCESS, or too much of a resource/product/item.
What is the difference between scarcity and shortage?
Scarcity refers to something that is difficult to find. A shortage implies that there is a certain need for the item and that there is not enough of it.
In a 1956 paper geophysicist King Hubbert developed the Hubbert curve predicting a shortage of what item?
oil
When demand for an item decreases and the supply increases the price of the item will likely?
The price of the item will likely decrease - as there're more stock than demand for the product.
How does the law of supply affect the marketplace?
If there is plenty of produce or goods the price will be lower than if there is a shortage, in which case the price will go up. This is due to the fact people are willing to pay more if they need an item.
What are the types of inventory costs?
Item (set-up) costs, holding (storage) costs, and shortage costs (demand > product).
