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What BEST describes the market demand for a particular product good?
Wiki User
∙ 12y ago
The sum of all the individual demands for a particular good determines the market demand for the good.
Wiki User
∙ 12y ago
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What term describes the total demand of all consumers for a company's product or service?
market demandAnother AnswerGlobal market demand would cover all consumers.
What does a demand schedule show?
A demand schedule shows a listing of the various quantities demanded of a particular product at all prices that might prevail in a market.
Example of market equilibrium?
Market equilibrium is when the demand of the product and the supply of the product is equal. If either demand or supply changes, then the equilibrium adjusts.
Explain why the law of demand can apply only in a free market?
Because the free market is the entity that in itself dictates the law of supply and demand. If the purchasing public has a high demand for a product, then more of that product is produced. Conversely, if there is only a low demand for a product, less of that product is produced.
What does the market demand curve show?
It shows the demand for the product in relation to the price
When a product is in demand what happens to the demand curve?
the market demand for the product. undefined. more inelastic than the market demand for the product. more elastic than the market demand for the product
What term describes the total demand of all consumers for a company's product or service?
market demandAnother AnswerGlobal market demand would cover all consumers.
What does a demand schedule show?
A demand schedule shows a listing of the various quantities demanded of a particular product at all prices that might prevail in a market.
Change in market price?
Changes in the market price is determined by demand of a product. If consumers demand the product, then the price will increase.
Example of market equilibrium?
Market equilibrium is when the demand of the product and the supply of the product is equal. If either demand or supply changes, then the equilibrium adjusts.
Explain why the law of demand can apply only in a free market?
Because the free market is the entity that in itself dictates the law of supply and demand. If the purchasing public has a high demand for a product, then more of that product is produced. Conversely, if there is only a low demand for a product, less of that product is produced.
How Market is made up off in Economics?
Market is made up of consumers where the element of product/service demand occurs. When the demand is generated suppliers have to fulfill the demand of the customers through the supply of product/service. In short demand and supply makes the market.
What does the market demand curve show?
It shows the demand for the product in relation to the price
What causes Price rise in a particular market?
Generally prices rise when the is increased demand for a product (oil/petrol for example) or when there is a restriction in the supply (eg houses).
What is market growth?
In general, when a company says there is "strong market growth", they mean that the overall demand for the product they are selling has increased. In other words, there is a larger market for the product they make and are trying to sell. However, it doesn't necessarily mean that the increase in demand is for THEIR particular product. Instead, it is an increase in demand for all companies that make that product. For example, Starbucks might say that there is market growth for coffee products. That means that more people are buying coffee products, but not necessarily from Starbucks. If it was only growth in Starbucks, then they would (or should) say that they have strong "sales growth".
Definition of market penetration?
Market penetration is defined as the measure of a product's popularity. This identifies the level of demand for a specific product.
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.
