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When demand is greater than supply a supply shortage or scarcity arises and prices increase.
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What happens to prices when demand is greater than suply?
They rise. Supply & demand.
What happens when supply is greater than demand?
The price declines until demand increases.
What happens to prices when the supply is greater than demand?
The price often come down as suppliers try to shift slow selling stock.
If the elasticity of demand for a good at a certain price is greater than One we describe demand as?
Variable
What will interest rates do if the demand for money in the money market exceeds the supply?
If the demand for money is greater than the supply, interest rates will go up.Whenever the demand for anything is greater than the available supply, the price goes up.
What happens to prices when demand is greater than suply?
They rise. Supply & demand.
What happens when supply is greater than demand?
The price declines until demand increases.
What happens to prices when the supply is greater than demand?
The price often come down as suppliers try to shift slow selling stock.
If the elasticity of demand for a good at a certain price is greater than One we describe demand as?
Variable
What is it called when supply is greater than demand?
Depression
What will interest rates do if the demand for money in the money market exceeds the supply?
If the demand for money is greater than the supply, interest rates will go up.Whenever the demand for anything is greater than the available supply, the price goes up.
If people have more time to adjust to a price change what happens?
The greater will be the price elasticity of demand.
When a product is in demand what happens to the demand curve?
the market demand for the product. undefined. more inelastic than the market demand for the product. more elastic than the market demand for the product
How does the equilibrium price change when both supply and demand shift to the right?
When both supply and demand shift to the right, the equilibrium price will increase if the increase in demand is greater than the increase in supply. Conversely, the equilibrium price will decrease if the increase in supply is greater than the increase in demand.
Which of the following explains why scarcity is a basic fact of life?
demand will always be greater than supply
What happens to consumer surplus if the price is above equilibrium?
When the price is above equilibrium, there is a surplus because supply is greater than demand. The price of the good will naturally decrease back to its equilibrium price where demand and suppy interesect, thus eliminating the surplus.
Define the term overload?
a greater than normal physical demand on muscles
