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-Government policy
-Supply ban
-Subsidy
-Technology
-Cost of production
-Weather (natural hazards)
-Cost of production (Capital, Enterprise, Land, Labour CELL)
-Objective of a business
-The size and nature of a industry
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How the non price price factors affect demand and supply?
By doing the factors..
What are the two non-price factors of supply?
demand and availability
How does the market move from one equilibrium to another after a non price factor changes?
you buy and price moves easy
What is demand function.what are its determinants of demand function?
the determinats demand are prices and non price factor
Define the Law of Supply?
Supply by definition: those quantities of goods and services that are produced to meet consumer's "demand" at a given price and at a given point in time;the "law" of supply simply states that supply shows the relationship between quantities supplied and and the quantity a firm is willing to supply!pricing determinants:# that as price rises more quantities are supplied (there is an extension in quantities supplied / a movement along the supply curve); # while the converse is true i.e. as price falls quantities supplied fall (contract); non price determinants: e.g. technology, weather, etc.when non-pricing determinants of supply influence supply there are shifts in the supply curve!for e.g. where weather conditions are favourable supply of agricultural production will increase and as such there will be an increase in quantities supplied i.e. a rightward shift in the supply curve; the converse is true
How the non price price factors affect demand and supply?
By doing the factors..
What are the two non-price factors of supply?
demand and availability
What is a Non price factor?
Non-price factors are actions that may influence the behavior of the market price. This is also called as shift factors or determinants that affect the accelerating change.
How does the market move from one equilibrium to another after a non price factor changes?
you buy and price moves easy
What is a non factor?
Non-price factors are actions that may influence the behavior of the market price. This is also called as shift factors or determinants that affect the accelerating change.
What is demand function.what are its determinants of demand function?
the determinats demand are prices and non price factor
Define the Law of Supply?
Supply by definition: those quantities of goods and services that are produced to meet consumer's "demand" at a given price and at a given point in time;the "law" of supply simply states that supply shows the relationship between quantities supplied and and the quantity a firm is willing to supply!pricing determinants:# that as price rises more quantities are supplied (there is an extension in quantities supplied / a movement along the supply curve); # while the converse is true i.e. as price falls quantities supplied fall (contract); non price determinants: e.g. technology, weather, etc.when non-pricing determinants of supply influence supply there are shifts in the supply curve!for e.g. where weather conditions are favourable supply of agricultural production will increase and as such there will be an increase in quantities supplied i.e. a rightward shift in the supply curve; the converse is true
What are some examples of non-price determinants of both supply and demand?
Price is no determinate on demand when it comes to food being needed to feed the famine-stricken; it is likewise no determinate of supply when an overabundance of rainfall causes flooding and destruction regardless of water needs.
Are there non-living things affecting giraffes?
No Not that I can imagine.
How do you define Non-wage factor?
non -wage factors are factor that are factor without payments
What is the opposite of a factor?
A non-factor.
When the government intervenes in the market by imposing price ceilings and price floors what occurs?
Price ceiling are maximum price for a particular good or service, usually by the government. If price ceiling is placed below an equilibrium price (set by the supply and demand of the market) there is a shortage since suppliers are not as willing to supply the goods while the consumers are willing to purchase more of the product. However, if the price ceiling is placed above an equilibrium price, it is considered non-binding and has no practical effect. Price floor works opposite of price ceiling and is a minimum price for a particular good or service. If price floor is placed above an equilibrium price there is a surplus. However, if the price ceiling is placed below an equilibrium price, it is considered non-binding and has no practical effect.
