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Quantity Demanded is only affected by the change in prices & all other factors given below only affect or lay down changes in Demand
2. taste/preference of consumers; the higher the pereference for a particular goods/service the higher the qd for the goods/service; the lower the preference the lower the qd of the goods/service
3. deposable income (dy) of consumers; the higher the dy of consumers the higher the qd of goods/services; the lower the yd the lower the qd of goods/services
4. population. the more the population the higher the qd for goods/services; the lower the population the lower the qd for goods/services
5. price of complimentary goods/services; the higher the price of complimentary goods the lower the demand for the main goods; the lower the price of the complimentary goods/service the higher the demmand for the main goods/service.
by;Zain-Ul-abideen email. Zain-Ul-abideen@hotmail.com
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Quantity demanded moves along the demand curve in response to changein?
Quantity demanded moves along the demand curve in response to changes in the price of the good or service. When the price decreases, the quantity demanded typically increases, and when the price increases, the quantity demanded usually decreases. This relationship is described by the law of demand, which illustrates how consumers adjust their purchasing behavior based on price fluctuations. Other factors, such as consumer preferences or income, can shift the entire demand curve but do not affect quantity demanded directly.
What relationship does the aggregate demand curve show between the quantity of real GDP demanded and other economic factors?
The aggregate demand curve shows the relationship between the quantity of real GDP demanded and factors like price levels, interest rates, and government spending. It illustrates how changes in these factors can affect the overall demand for goods and services in the economy.
What is price determinant?
The price determinates are the factors that will determine the price of a particular commodity, These factors are quantity supplied, quantity demanded and the cost of production.
And quantity demanded is shown on?
And quantity demanded is shown on?
What is an increase in quantity demanded?
what in is an increase in quantity demanded
Quantity demanded moves along the demand curve in response to changein?
Quantity demanded moves along the demand curve in response to changes in the price of the good or service. When the price decreases, the quantity demanded typically increases, and when the price increases, the quantity demanded usually decreases. This relationship is described by the law of demand, which illustrates how consumers adjust their purchasing behavior based on price fluctuations. Other factors, such as consumer preferences or income, can shift the entire demand curve but do not affect quantity demanded directly.
What factors determine who makes up a particular audience?
quantity supplied, quantity demanded and the cost of production
What relationship does the aggregate demand curve show between the quantity of real GDP demanded and other economic factors?
The aggregate demand curve shows the relationship between the quantity of real GDP demanded and factors like price levels, interest rates, and government spending. It illustrates how changes in these factors can affect the overall demand for goods and services in the economy.
What determine price?
The price determinates are the factors that will determine the price of a particular commodity, These factors are quantity supplied, quantity demanded and the cost of production.
What is price determinant?
The price determinates are the factors that will determine the price of a particular commodity, These factors are quantity supplied, quantity demanded and the cost of production.
And quantity demanded is shown on?
And quantity demanded is shown on?
What is an increase in quantity demanded?
what in is an increase in quantity demanded
How is price and quantity demanded related?
As a general rule, as the price level increases the quantity demanded will decrease, and vice versa. If the good or service is inelastic (e.g. a necessity or necessary to survival) a change in price will affect the quantity in a less than proportionate manner. That is, if there is a increase in price, the quantity demanded will increase only a small (if any) amount. If the good or service is elastic (e.g. luxury items) a change in price will affect quantity demanded more than proportionately. So if the the price increases, quantity demanded will decrease a large (more than proportionate) amount.
When quantity supplied is more than quantity demanded its called?
A quantity supplied is more than quantity demanded its called A Surplus.
When demand is elastic a decrease in price causes quantity demanded to?
These factors mean that quantity will increase at a more than proportionate amount to price.
At equilibrium price the quantity is demanded always equal to the quantity supplied?
Yes, the equilibrium price equates the quantity supplied to the quantity demanded.
How can one determine the elasticity of a product or service?
One can determine the elasticity of a product or service by analyzing how changes in price affect the quantity demanded. If a small change in price leads to a large change in quantity demanded, the product or service is considered elastic. If the change in price has little effect on quantity demanded, the product or service is considered inelastic.
