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What is the key variable affecting demand?
price
Factors affecting income elasticity of demand?
The income factor affecting income elasticity of demand is weather or not goods are necessities of luxury.
What is variable demand stochastic demand deterministic demand?
stochastic demand is random demand. it is determined by predictable actions and a random element.
If the elasticity of demand for a good at a certain price is greater than One we describe demand as?
Variable
'What are the factors affecting demand for land?
technology level of income
What is the key variable affecting demand?
price
Why price an independable variable and demand is dependent variable?
Because demand creates the price, and not the price dictates the demand.
What is the definition for elasticity?
Elasticity is a measure of how sensitive one economic variable is to changes in another variable. It is commonly used to describe the responsiveness of quantity demanded or supplied to changes in price, income, or other factors affecting demand or supply.
Which is determinant of demand?
They are factors affecting demand other than
What are the key variables for sugar industry?
Key variables for the sugar industry include global sugar prices, production levels, weather conditions affecting crop yields, government policies such as subsidies or tariffs, and consumer demand for sugar-containing products. Other important factors include technological advancements in sugar production, competition from alternative sweeteners, and sustainability practices in sugar farming.
Factors affecting income elasticity of demand?
The income factor affecting income elasticity of demand is weather or not goods are necessities of luxury.
Which is a determinant of demand?
They are factors affecting demand other than
What are the factors affecting supply of cars?
Demand
How is the US' consumption of fossil fuels affecting the supply and demand of these products?
How is the United States' consumption of fossil fuels affecting the supply and demand of these products?
What is variable demand stochastic demand deterministic demand?
stochastic demand is random demand. it is determined by predictable actions and a random element.
What types of goods have variable demand?
Luxuries
What is the type of variable that a researcher wants to keep from affecting an experiments outcome?
Extraneous variable
