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What will happen to demand for a commodity if the price of its complementary falls?
Complement goods are those goods which uses collectively or side by side e.g petrol and cars. If the demand of one good changes then demand of other good move in the same direction. If the price of product complementary falls then the demand of complementary product increases according to the demand law which in turn increase the demand of product. Suppose the prices of petrol falls which will increase the demand of petrol which in turn in increase the demand of cars.
If there is excess demand for a product or service what will happen to the price?
there is consumer advice
What is most likely to happen to the price of a product if demand and supply increase at the same rate?
prices stay stable. studddy islannd ! :)
What will happen if there is an increase in demand for a product who's supply is perfectly elastic?
The quantity of the the products bought tends to fluxuate a lot. The prices tend to stay somewhat stable. It is opposite for inelastic demand,
Why is the demand for labor referred to as a derived demand?
Derived demand results from a demand for increase in intermediates goods or production resulting from another demand resulting for final or intermediate goods. For example, a demand for an item can make its production increase, which makes its labor increase.
What happen when the demand for a product?
When demand decreases, supply increases.
What will happen to demand for a commodity if the price of its complementary falls?
Complement goods are those goods which uses collectively or side by side e.g petrol and cars. If the demand of one good changes then demand of other good move in the same direction. If the price of product complementary falls then the demand of complementary product increases according to the demand law which in turn increase the demand of product. Suppose the prices of petrol falls which will increase the demand of petrol which in turn in increase the demand of cars.
If there is excess demand for a product or service what will happen to the price?
there is consumer advice
What will happen when the demand for a product increases according to Adam Smith?
Supply increases.
According to Adam smith what happen when the demand for a product decreases?
Supply increases.
What is most likely to happen to the price of a product if demand and supply increase at the same rate?
prices stay stable. studddy islannd ! :)
What is most likely to happen to the prices of a product if demand and supply increase at the same rate?
prices stay stable. studddy islannd ! :)
What will happen if there is an increase in demand for a product who's supply is perfectly elastic?
The quantity of the the products bought tends to fluxuate a lot. The prices tend to stay somewhat stable. It is opposite for inelastic demand,
Why is the demand for labor referred to as a derived demand?
Derived demand results from a demand for increase in intermediates goods or production resulting from another demand resulting for final or intermediate goods. For example, a demand for an item can make its production increase, which makes its labor increase.
What will happen to product when demand is low?
When demand for a product is low, businesses may experience excess inventory, leading to increased storage costs and potential waste. To stimulate sales, companies might reduce prices or offer promotions, which can impact profit margins. Additionally, prolonged low demand may prompt businesses to reevaluate their product offerings, potentially leading to discontinuation or rebranding efforts. Overall, low demand can force companies to adapt their strategies to align with market conditions.
Is it possible for the price level to fall while produstion and emplyment both riseIf it is possible how could this happen If it is not possible explain why not?
The price for a product might fall while production and employment both rise if there is no longer a demand for the product. If there is a product so new on the market that it takes over for another product, while the first product is still in high production, the price of the first object is going to fall because the demand is lost.
What is design modification?
A design change is the modification conducted to the product. It can happen at any stage in the product development process. The design changes that happen early in the design process are less expensive when compared to those that take place after it is introduced into full-scale production.
