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A floor price is a group-imposed price limit on how low a price can be charged for a product.
most of the times yes but price usually depends on the productivity costs not on the quality of the product. A good quality product can be found in low price as and a bad quality product can be branded and expensive.
if there is high demand for it but little of the product it will ofcourse go up in price and if there's low demand but a lot of the product the market price will go down dramatically
the price of the product gose downaka less $$$$$
Supply is how much of the product an economy has. The demand is how much the people need the product. These two make the price. Let's say the supply is high and demand is low, the price would be low. If it was the other way around, price would be higher.
A floor price is a group-imposed price limit on how low a price can be charged for a product.
most of the times yes but price usually depends on the productivity costs not on the quality of the product. A good quality product can be found in low price as and a bad quality product can be branded and expensive.
In economics, when a commodity is in high demand or in scarce supply, its price will rise; when a commodity is in low demand or plentifully supplied, its price will be lower.The laws of supply and demand dictate that if a product is in short supply, but the demand is high, the price of the product will also rise. If a product is in overabundance, but the demand is low, the price of the product will decrease.
if there is high demand for it but little of the product it will ofcourse go up in price and if there's low demand but a lot of the product the market price will go down dramatically
This is in accordance to the Demand & Supply Theory... When the demand for a product is high and its supply is low, this usually causes the price of that commodity to increase Similarly when supply for a product is high and the demand for that product is low, it causes the price of that product to decrease. Hence the supply is inversely related to the price of any product (Provided the Demand is in accordance to the two points mentioned above)
the price of the product gose downaka less $$$$$
joint product has a high price value whereas by-product has a low price value. joint products are 2 or more products simultaneously produced. whereas by-product is recovered incidentally
you must have a very popular product, of which you will price very low.
Advertising a product at a low price when it is no longer available
A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, good, commodity, or service.
Supply is how much of the product an economy has. The demand is how much the people need the product. These two make the price. Let's say the supply is high and demand is low, the price would be low. If it was the other way around, price would be higher.
price effects income directly. if price is high then demands will down and profit will high. if price is low demand will increase. and profit will minimum. but due to high selling amount profit can be increase.