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(i) As cars have very elastic demand, this means that if price falls then automatically demand for cars will rise. And, if prise rises, demand for cars will fall.
(ii) If income rises, then demand for the product will rise as consumers' purchasing power will increase.
(iii) It also depends on fashion altogether with the taste of the product. Fashion will influence demand of cars. (brands, etc)
(iv) Government policies affect demand for cars, taxes and subsidies will either increase/decrease demand.
(v) Hire purchase facilities will increase demand for cars as it will facilitate customers when paying for the good.
I would add one more very crucial factor that influences the demand for cars is the current price of petrol/diesel and the respective mileage offered by the model.
What else can I help you with?
Will An increase in the price of steel will shift the supply of cars to the right?
No, an increase in the price of steel will not shift the supply of cars to the right; rather, it will likely shift the supply curve to the left. This is because steel is a key input in car manufacturing, and higher steel prices increase production costs for car manufacturers, leading to a decrease in the quantity of cars supplied at any given price. Consequently, the overall supply of cars in the market would decrease, not increase.
If automobile workers went on strike causing a decreased supply of cars the supply curve would shift inward to the left and?
there would be an eventual upward movement along the demand curve, reestablishing equilibrium
If automobile workers went on strike causing a decreased supply of cars the supply curve would shift inward to the left and .?
there would be an eventual upward movement along the demand curve, reestablishing equilibrium
Supply and demand graph curve of hybrid cars?
supply and demand curve for hybrid vehicles
When analyzing the market for used cars graphically illustrate the impact the price of new cars falls would have on the demand and supply curve?
This depends on why price changes. I will assume price changes because of a decrease in cost of production. Supply: shifts right since producing a car is now cheaper at all levels of production. Demand: unchanged. New equilibrium: further right than before (higher quantity demanded and a lower price).
What are the factors affecting supply of cars?
Demand
Will An increase in the price of steel will shift the supply of cars to the right?
No, an increase in the price of steel will not shift the supply of cars to the right; rather, it will likely shift the supply curve to the left. This is because steel is a key input in car manufacturing, and higher steel prices increase production costs for car manufacturers, leading to a decrease in the quantity of cars supplied at any given price. Consequently, the overall supply of cars in the market would decrease, not increase.
If automobile workers went on strike causing a decreased supply of cars the supply curve would shift inward to the left and?
there would be an eventual upward movement along the demand curve, reestablishing equilibrium
If automobile workers went on strike causing a decreased supply of cars the supply curve would shift inward to the left and .?
there would be an eventual upward movement along the demand curve, reestablishing equilibrium
Why do cars have mufflers?
to decrease exhaust noise
Who or what is causing air pollution?
cars
Are cars getting higher?
No Cars are actually getting lower causing more cars to break on speed bumps
What would happen to the price of American cars if us raised the tariff on Japanese cars?
The price of American cars would stay the same. The price of Japanese cars would go up, causing more people to buy American cars. That's what tariffs are for. ... But, with American cars then being more affordable than Japanese cars, wouldn't demand increase on American cars and decrease on Japanese cars? The former would mean that US automakers start increasing pricing and the latter would mean that the Japanese automakers need to lower prices.
Supply and demand graph curve of hybrid cars?
supply and demand curve for hybrid vehicles
Why do cars cost so much?
Cars can be expensive due to various factors such as the cost of materials, technology, labor, research and development, marketing, as well as profit margins for car manufacturers and dealers. Additionally, other factors like supply and demand, import/export taxes, and government regulations can also influence the pricing of cars.
How do you unlock cars on just cause?
Causing Chaos
What is causing pollution on the road?
Mainly exhaust from cars.
