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What happened to the price of consumer goods when demand grew after the war?
Wiki User
∙ 9y ago
Decreased Rapidly
Wiki User
∙ 11y ago
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What happened to the price of consumer goods after World War II?
increased
How does consumer expectation affect demand for certine goods?
Consumers will buy more of a good when its price is lower and less when its price is higher.
What are the 5 non-price determinants of demand?
consumer tastes and preferences market size income prices of related goods consumer expectations
What is price of related goods in demand?
Price of related goods in demand means prices of substitute goods and complementary goods.
How does price help to connect the availability of goods to the demand for goods?
The price of a given commodity will determine both the demand and the availability of goods. If the price is reduced the demand of the goods will increase and the availability of the goods will reduce.
What makes a price elastic?
If a change or increase in price will affect demand. Elastic goods are usually those that the consumer does not NEED to purchase, such as luxury goods. When the producer increases price, demand will usually increase. Inelastic goods are those that the consumer needs to buy no matter what the price is, such as milk or salt. A sale or price increase won't affect the demand at all.
What happened to the price of consumer goods after World War II?
increased
How does consumer expectation affect demand for goods?
Consumers will buy more of a good when its price is lower and less when its price is higher.
How is demand mannaged?
Demand depends on the following reasons :- 1)Price of the commodity. 2)Income of the consumer. 3)Prices of the related goods. 4)Tastes and preferences of the consumer.
How does consumer expectation affect demand for certine goods?
Consumers will buy more of a good when its price is lower and less when its price is higher.
What are the 5 non-price determinants of demand?
consumer tastes and preferences market size income prices of related goods consumer expectations
What the cause of demand pull inflation?
Consumers want more and more goods and services. Stronger consumer demand for goods with a limited or fixed supply. A price level increase due to an increase in aggregate demand.
What is price of related goods in demand?
Price of related goods in demand means prices of substitute goods and complementary goods.
How does price help to connect the availability of goods to the demand for goods?
The price of a given commodity will determine both the demand and the availability of goods. If the price is reduced the demand of the goods will increase and the availability of the goods will reduce.
What determines the quantity of a good that sellers supply?
The demand of the consumer determines the quantity of goods a seller supplies. Supply and demand also affects market price.
What is the meaning of elastricity demand?
The term elasticity indicates responsiveness of one variable to change in other variable.For e.g.,when variable x responds to change in variable y,variable x is said to be elastic.Likewise,demand is said to be elastic if it responds to change in price. There are three main determinants of demand,they are price of the commodity,income of the consumers,and price of the related goods.Thus,elasticity of demand means responsiveness of demand due to change in price of the commodity,income of the consumer,and price of the related gooods. Or you can say that,it measures the degree of change in the quantity demanded of the commodity in response to a given change in price of the commodity,change in consumer's income or price of the related goods. Accordingly,there are three main type of elasticities of demand: 1. Price elasticity of demand: Price elasticity of demand measures the responsiveness of demand for a commodity due to change in it's price. 2. Income elasticity of demand: It indicates the responsiveness of demand to change in consumer's income.It is the degree of change of demand to a change in consumer's income. 3. Cross elasticity of demand: It refers to change in quantity demanded of commodity x as a result of changes in the price of commodity y. Here, x and y can be either substitute goods or complementary goods).
Factors that influence consumer demand for goods and services?
1.price of good and services 2.price of goodsand services in relation to other goods and services 3.taste and refrences 4.income
