0
Supply and demand have noting to do with the cost of goods?
JamesGreenfb5488
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What is the cause of a demand pull inflation?
Consumers want more and more goods and services. Stronger consumer demand for goods with a limited or fixed supply. A price level increase due to an increase in aggregate demand.
What are factor determine demand curve?
Demand influences supply. When there is high demand for items, supply is lower, thus increasing the cost. When there is low demand, supply is high, thus decreasing costs.
What are the main determinants of labor demand n supply?
Main determinants of labour demand are: demand for goods,availability of capital and cost of labour. Main determinants of labour supply are: wages and benefits, population size(demographic factors) and job requirements
When a firm makes a profit by producing enough goods to meet demand without having leftover supply at what point is it?
When a firm makes a profit by producing enough goods to meet demand without having leftover supply the point of profit is where marginal revenue equals marginal cost.
When disaster hits why does the cost of food and gas go up?
People attempt to hoard goods, reducing supply and increasing demand. The price therefore increases.
What is the cause of a demand pull inflation?
Consumers want more and more goods and services. Stronger consumer demand for goods with a limited or fixed supply. A price level increase due to an increase in aggregate demand.
What are factor determine demand curve?
Demand influences supply. When there is high demand for items, supply is lower, thus increasing the cost. When there is low demand, supply is high, thus decreasing costs.
What are the main determinants of labor demand n supply?
Main determinants of labour demand are: demand for goods,availability of capital and cost of labour. Main determinants of labour supply are: wages and benefits, population size(demographic factors) and job requirements
When a firm makes a profit by producing enough goods to meet demand without having leftover supply at what point is it?
When a firm makes a profit by producing enough goods to meet demand without having leftover supply the point of profit is where marginal revenue equals marginal cost.
How free trade relates to specialization of supply of and cost of goods?
explaine how free trade relates to specialization of supply of and cost of goods
How opportunity cost applies to you?
supply and demand
When disaster hits why does the cost of food and gas go up?
People attempt to hoard goods, reducing supply and increasing demand. The price therefore increases.
When a firm makes a profit by producing enough goods to meet demand without having leftover supply at what point is this?
The point where marginal revenue equals marginal cost
Does the free market involve the market forces of supply and demand?
Traditionally a free market without involvement of the government would be purely directed by supply and demand. As supply drops or demand increases, prices for a good go up - and conversely increasing supply or decreasing demand lower prices.An additional level of complexity comes into play when you speak of fabricating goods from other goods; value can be added by turning raw materials into goods, allowing the producer to make more profit on the goods to be sold than was invested in purchasing the base materials.A third level of complexity is based on international trade; goods that are at high supply and/or low demand can be transported to other places, where supplies are lower or demand is higher. This will occur when the potential additional profits exceed the cost of transporting and storing goods.There are various forces that can affect a pure supply-demand curve, including:Governments prohibiting a good due to legal reasonsRestricting or subsidizing trade with specific countries (import/export)Restricting or subsidizing trade of particular goods (import/export)Cartel forming between suppliers to control price and supplyIn short, supply and demand are the basis of a free market, but in reality a lot of other forces affect supply and demand to alter the outcomes.
When a firm makes a profit by producing enough good to meet demand without having leftover supply at what point is it?
When a firm makes a profit by producing enough goods to meet demand without having leftover supply the point of profit is where marginal revenue equals marginal cost.
What is the definition of market failure?
Market failure is when there is a misallocation of resources, such that merit goods are underprovisioned and demerit goods are overprovisioned. If a market does not fail, it means that the supply of the products, or the demand for these products, takes into account the social cost of production. The result of market failure on the supply and demand model is disequilibrium. The implementation of taxation and subsidies are two methods to correct market failure.
What does A perfect elastic supply curve look like?
Demand and cost are inversely related, i.e., as the cost goes up, the demand goes down, and as cost goes down, demand goes up. So any two cost-demand curves are are inversely related constitute a perfect elastic supply curve.
