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What happens when there is too much demand for available goods and services?
Wiki User
∙ 13y ago
When there is too much demand for available goods/services, there is a shortage. To meet this excess demand, firms increase production (at higher costs) until demand = supply. Thus, a shortage generally implies price is too low.
Wiki User
∙ 13y ago
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Consumers expect certain goods and services to be available on demand during?
both high and low demand periods
What do you call in economic terms buying and selling of goods?
Demand and Supply. Demand= buying goods and services. Supply=selling goods and services.
How do people demand goods and services?
When economists refer to the demand for goods and services, what they mean is, what goods and services are people buying. People demand things by buying them. If you demand to have things given to your for free, that is politics rather than economics.
What is the total amount of goods and services in the economy available at all possible price levels called?
aggregate demand.
What determines the prices of goods and services in the product market?
Supply and demand. Supply and demand determines the prices of goods and services in the market.
Consumers expect certain goods and services to be available on demand during?
both high and low demand periods
What do you call in economic terms buying and selling of goods?
Demand and Supply. Demand= buying goods and services. Supply=selling goods and services.
How do people demand goods and services?
When economists refer to the demand for goods and services, what they mean is, what goods and services are people buying. People demand things by buying them. If you demand to have things given to your for free, that is politics rather than economics.
What is the total amount of goods and services in the economy available at all possible price levels called?
aggregate demand.
What determines the prices of goods and services in the product market?
Supply and demand. Supply and demand determines the prices of goods and services in the market.
What is foreign demand?
It is the foreign demand for domestic goods and services.
What is secondary demand?
It is the demand for specific goods/services of a firm. Due to differentiation of goods in the industry.
What is meant by derived demand and how does this demand characteristic impact freight demand?
Derived demand is the demand to transport goods or services to location depend on demand to consume a goods or services to location. Freight of product is derived from the customer demand of product.
What is aggregate demand'?
the total demand for final goods and services in the economy
What is the demand for all goods and services within a country?
Aggregate Demand
What generates a demand for goods and services?
PRICE
What happens when income tax are increased?
firm and households have less money to spend . this leads to a fall in demand for goods and services. Clover
