Rent controls result in shortages and minimum wage laws result in surpluses
When a price increase has little or no effect on the demand for a product, it is inelastic.
High Demand Lowers QuantityLow Demand increases price and quantity
Demand is elastic
use a demand and supply diagram to illustrate the effect of a subsidy.
Rent controls result in shortages and minimum wage laws result in surpluses
-Often leads the consumer to impulse buying -advertising creating an artificial demand above the individual's basic needs
When a price increase has little or no effect on the demand for a product, it is inelastic.
High Demand Lowers QuantityLow Demand increases price and quantity
The photoelectric effect demonstrates the particle nature of light. In this phenomenon, light is shown to behave like a stream of particles (photons) by ejecting electrons from a material when it hits the surface.
by the radiation in the filament it throw out heat . this way the bulb demonstrates the heating effect. :D
hi
Demand is elastic
use a demand and supply diagram to illustrate the effect of a subsidy.
In the law of supply and demand the effect on the Labor Market is that labor is a commodity.Labor is a commodity
It doesn't have a direct effect on demand... if suddenly there were less toothpaste at the grocery store, the demand would remain the same. If the supply gets too low to meet the demand, the price will go up, and if the price goes up, that might have an effect on demand... some people will use other options besides toothpaste.
The Barnum Effect demonstrates how individuals tend to accept vague and general personality descriptions as highly accurate and personally relevant. It shows that people are inclined to see themselves in descriptions that could apply to virtually anyone.