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What goods would be likely to be bought in the same quantity even if it double in price?
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∙ 8y ago
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Laverna Senger
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What determine the quantity of a good that buyers demand?
The quantity of goods that buyers demand are determined by the control and means witch they were contained or dispatched eg. manual/automated and QC. (quality control)
What detemines the price and the quantity produced of goods?
Supply determines the price and quantity of produced goods.
Which of th following goods would be likely to be bought in the same quantity even if it doubled in price?
I wasn't able to see what goods that you were talking about, but it is anything that has inelastic demad. i.e. the reactiveness of demand to a change in price. This would include things that we cannot live without, and those which we get addicted to e.g. petrol, alcohol, tobacco. Hope that helps!
How much do goods cost in other countries?
It depends on what kind of goods, and the quantity of goods - and what other countries!
To describe explain and predict changes in the price and quantity of goods sold?
Laws of Supply and Demand explain and predict changes in the price and quantity of goods sold.
What determine the quantity of a good that buyers demand?
The quantity of goods that buyers demand are determined by the control and means witch they were contained or dispatched eg. manual/automated and QC. (quality control)
What detemines the price and the quantity produced of goods?
Supply determines the price and quantity of produced goods.
Which of th following goods would be likely to be bought in the same quantity even if it doubled in price?
I wasn't able to see what goods that you were talking about, but it is anything that has inelastic demad. i.e. the reactiveness of demand to a change in price. This would include things that we cannot live without, and those which we get addicted to e.g. petrol, alcohol, tobacco. Hope that helps!
Which market or markets are consumer goods and services bought into?
Goods or services bought by a consumer are bought in the consumer market. The consumer market includes fast moving consumer goods, consumer durables, soft goods and services.
How much do goods cost in other countries?
It depends on what kind of goods, and the quantity of goods - and what other countries!
To describe explain and predict changes in the price and quantity of goods sold?
Laws of Supply and Demand explain and predict changes in the price and quantity of goods sold.
What products will increase in quantity demanded even with price increases?
Goods that have an increase in quantity demanded in response to an increase in price are called Giffen goods. Evidence of the existence of Giffen goods is extremely limited and there are no known examples of Giffen goods.
What is the accounting entries when goods are bought on credit?
The journal entry is the accounting entry which lists the goods that are bought on credit.
What is A quantity of goods produced at one time?
batch
What name is given to goods bought into a country?
Goods taken into a country are imported goods.
What are exceptional goods in economics?
Exceptional goods are those which do not follow Law of Demand which states that "as the price of a particular good goes up, its quantity demanded decreases". They are of three types- Inferior Goods- where quantity demanded goes down when the income of the consumer increases. eg. Cheap Rubber Shoes Giffen Goods is a case of inferior goods where quantity demanded goes up as price increases. eg staple food, rice wheat etc. Veblen Goods- quantity demanded increases with increase in price of the product. eg- designer goods, artifacts etc.
The goods whose quantity demanded increases as income goes up are called what?
normal goods
