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Relative supply refers to the quantity of a good or service available in comparison to another good or service within a market context. It is often expressed as a ratio or percentage, helping to illustrate how the supply of one product changes in relation to the supply of another. This concept is important for understanding price dynamics and the allocation of resources in economic models. Relative supply can also influence consumer choice and market equilibrium.
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Which of the following explains the factors responsible for setting prices in a market free system?
Supply relative to demand.government
When there are simultaneous changes in demand and supply what happens?
changes in relative prices are the driving force in the market mechanism
What are the types of supply elasticity?
Types of elasticity of supply1) Perfectly elastic supply2) Relative elastic supply3) Unitary elastic supply4) Relatively in elastic supply5) Perfectly in elastic supply
Which economic system has relative prices change to reflect changes in supply and demand for different commodities is known as a?
Price or market system
What factors are responsible for setting prices in a free market system?
"Supply is relative to demand" explains the factors responsible for setting prices in a free market system.
Which of the following explains the factors responsible for setting prices in a market free system?
Supply relative to demand.government
When there are simultaneous changes in demand and supply what happens?
changes in relative prices are the driving force in the market mechanism
What are the types of supply elasticity?
Types of elasticity of supply1) Perfectly elastic supply2) Relative elastic supply3) Unitary elastic supply4) Relatively in elastic supply5) Perfectly in elastic supply
Which economic system has relative prices change to reflect changes in supply and demand for different commodities is known as a?
Price or market system
Is it true you have to supply cakes when its your birthday?
No; typically a relative or good friend of the person having the birthday hosts the party and supplies the birthday cake.
When coding new surgical techniques a valuable resource for proper coding is a hospital administrator b ICD-9 manual c relative value guide d medical supply representative?
D. medical supply representative
What factors are responisble for setting prices in a free-market eystem?
Supply relative to demand is primarily responsible for setting prices in a free market system.
What would a drowner do at a water meadow?
This website seems to supply all information relative to this question: http://www.farm-direct.co.uk/farming/history/watermeadow/index.html
What factors are responsible for setting prices in a free market system?
"Supply is relative to demand" explains the factors responsible for setting prices in a free market system.
How long does it take for one milliliter to evaporate?
Depends on the rate of supply of heat and the relative humidity. It could take forever (100% relative humidity), or be almost instantaneous (pour onto a red hot plate with < 100% humidity).
Why does the LM curve slope upwards?
In equilibrium: Money supply = Money demand.Summarizing it, we can explain the upward sloping LM curve as following:If income is high then thedemand for money will be high relative to the fixed supply. In order to equilibrate money demand and money supply, interest rates have to also be high to reduce money demand
What explains the factor responsible for setting prices in a free market system?
"Supply is relative to demand" explains the factors responsible for setting prices in a free market system.
