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Who determines prices?
supply and demand
What determines the prices of goods and services in the product market?
Supply and demand. Supply and demand determines the prices of goods and services in the market.
Who determines prices in a market economy?
in a market economy.. the prices are decided by demand and supply....or compention
What is another word for supply and demand?
Another word for supply and demand is "market forces." This term refers to the economic factors that influence the availability of goods and services (supply) and the desire for them (demand), which together determine prices in a market economy.
What determines the price of a good or service in the market?
The price of a good or service in the market is determined by the interaction of supply and demand. When demand for a product is high and supply is limited, prices tend to rise. Conversely, when supply is high and demand is low, prices tend to fall. Other factors such as production costs, competition, and government regulations can also influence pricing.
Who determines prices?
supply and demand
What determines the prices of goods and services in the product market?
Supply and demand. Supply and demand determines the prices of goods and services in the market.
The invisible hand directs economic activity through?
The invisible hand directs economic activity through prices. The price of commodities basically determines the law of supply and demand.
Who determines prices in a market economy?
in a market economy.. the prices are decided by demand and supply....or compention
What determines the price of a good or service in the market?
The price of a good or service in the market is determined by the interaction of supply and demand. When demand for a product is high and supply is limited, prices tend to rise. Conversely, when supply is high and demand is low, prices tend to fall. Other factors such as production costs, competition, and government regulations can also influence pricing.
What causes prices to go up or down?
Prices fluctuate primarily due to the forces of supply and demand. When demand for a product exceeds its supply, prices tend to rise as consumers compete to purchase the limited goods. Conversely, if supply exceeds demand, prices typically fall as sellers lower prices to attract buyers. Other factors, such as production costs, economic conditions, and consumer preferences, can also influence price changes.
What determines prices in the market?
The cost of producing a good or service along with the demand for that good or service.
How does the interaction between supply and demand determine prices in a market?
The interaction between supply and demand in a market determines prices. When demand for a product is high and supply is low, prices tend to increase. Conversely, when supply is high and demand is low, prices tend to decrease. This balance between supply and demand helps establish the market price for a product or service.
If supply exceeds demand for a product what economic explanation occurs?
prices decrease
What economic term means the willingness of consumers to purchase a specific amount of a product at different prices?
Demand is the economic term meaning the willingness of consumers to purchase a specific amount of a product at different prices.
How do prices influence economic behavoir?
If prices are high, people tend to spend less. If prices are low, people tend to spend more.
What determines prices of land labor capital and entrepreneurship in the factor market?
Demand and supply in every market will determine the price differently.
