The law of supply and demand effectively explains how prices are determined in a market economy, as it illustrates the relationship between the availability of goods (supply) and consumer desire (demand). A strength of this law is its ability to predict price fluctuations based on changes in market conditions. However, a weakness lies in its assumptions of perfect competition and rational behavior, which may not hold true in real-world situations, leading to market inefficiencies and distortions. Additionally, external factors such as government regulations and market monopolies can further complicate price determination beyond basic supply and demand dynamics.
identify problems incurred in clearing and forwarding business
Write notes price determination of demand 400 words
determination of priceimportance to finance ministerto the farmer
True
they both haveto do with determination and having right
identify problems incurred in clearing and forwarding business
Write notes price determination of demand 400 words
determination of priceimportance to finance ministerto the farmer
LPD means " Litters per demand". Regards S.Vignesh
True
Supply + Demand = Price
they both haveto do with determination and having right
market theory of wage determination.
It helps to Determination of price. The study of law of demand is useful for a trader to fix the price of a commodity. And also law of demand explains consumer choice behavior when the price changes.
there are two things in regards to demand. one is demand the other is quantity demanded. if the demand curve stays the same and supply curve shifts right, the price of the item will decrease and quantity demanded will also decrease
there are two things in regards to demand. one is demand the other is quantity demanded. if the demand curve stays the same and supply curve shifts right, the price of the item will decrease and quantity demanded will also decrease
The strength of a desire for something and how scarce that something is.