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What happens to price when a shortage exists?
Consumers bid up the price.
What happens to prices when there is a shortage in the market?
The price goes up if the demand is high
When producers will not or cannot offer goods and services at current price's a what happens?
Shortage. :)
What happens if price of petrolium products increased?
what happens if petrolium price is hike
What causes a shortage of goods price ceiling or price floor Which causes a surplus?
if, at a current price there is a shortage of a good
What happens to price when a shortage exists?
Consumers bid up the price.
When producers will not or cannot offer goods and services at current price's a what happens?
Shortage. :)
What happens to prices when there is a shortage in the market?
The price goes up if the demand is high
What happens if price of petrolium products increased?
what happens if petrolium price is hike
What causes a shortage of a good - a price ceiling or a price floor?
if, at a current price there is a shortage of a good
What causes a shortage of goods price ceiling or price floor Which causes a surplus?
if, at a current price there is a shortage of a good
What happens when supply is greater than demand?
The price declines until demand increases.
What happens to the equilibrium price when supply goes down?
When supply goes down the equilibrium price tend also to fallcausing the price of commodities to fall and hence shortage of goods and services to the economy.
What happens to the price when there is an excess supply of products?
The price goes down because of supply and demand.
How does a surplus or a shortage of a good or service affect the market price?
A surplus or a shortage of a good or service affects the market price directly. When there is a surplus, the prices goes down and when there is a shortage the price increases due to the demand levels.
When does equilibrium price in economics happen?
equilibrium price in economics happens when demand for and supply of the products equals
What happens to the equilibrium price and quantity when demand rises less than supply rises?
When price and quantity demanded rises less than supply rises then shortage of goods create.
