0
Usually the prices of goods and services are demand driven.
When the demand for an item is high its price usually goes up and similarly when the price of an item is low its price usually goes down.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
Why is the consumer king in a market economy?
because the market economy is driven by demand and consumer is the one who demands
Studies indicate that the demand for fresh tomatoes is much more elastic than the demand for salt These findings reflect that?
There are more suitable alternatives to fresh tomatoes than there are suitable alternatives to salt. The desire for fresh tomatoes is driven more by preference, whereas the desire for salt is driven more by need.
Difference between demand and supply and what causes each?
The words are just what they say. Demand is how much desire consumers have for a product or service. Supply is how much of a product or service is available. When demand is great and supply is low the price of a product or service increases. When demand is low and supply is great, the price of a product or service decreases. The effect on price is the quantification of supply and demand. Demand in many instances is driven by disposable income and free time. Henry Ford recognized this in increasing the wages of his workers and decreasing their work time. See the related link below.
Is currency that is pegged to another currency usually changed on a supply-and-demand basis?
Usually it is not changed as it is 'pegged'. However, it mey be altered in the value because of government action, often politically driven.
The difference between a command economy and a demand economy?
A command economy is a private business that the government does not support. It is purely driven by consumers. They decide on what is produced. A demand economy is a business where only the government decides what is produced. There is also something called a mixed economy and that is when the government supports private businesses and decides what is produced for them.
What has driven Africa's trade?
Demand,
What is the demand for business goods driven by?
true
What was Traded between the Far East and Europe was driven by demand for which goods?
coffe and stuff
What is the definition of fordism?
A form of industrial capitalism, characterised by mass production and mass consumption. Resource driven production instead of demand driven and wages dependent on productivity of the worker.
Why is the consumer king in a market economy?
because the market economy is driven by demand and consumer is the one who demands
Why is ammo so high?
Obamma has been great for gun and ammo sales. Demand has driven the costs up.
Studies indicate that the demand for fresh tomatoes is much more elastic than the demand for salt These findings reflect that?
There are more suitable alternatives to fresh tomatoes than there are suitable alternatives to salt. The desire for fresh tomatoes is driven more by preference, whereas the desire for salt is driven more by need.
Can a used-car dealership demand a large downpayment 2 weeks after the contract has been signed and the car has been driven away from the car lot?
If it was written in the contract, yes. If it was not written in the contract then this would be an unfair demand and not binding.
What demanded a ransom for american prisoners?
The need to demand a ransom for American prisoners is usually driven by the fact that the American government cares for every citizen.
What is a sentence using the phrase supply and demand?
The concept of supply and demand governs all commerce.When farmers shipped whiskey from eastern Pennsylvania over the mountains to eastern Pennsylvania, they were involved in the process of supply and demand.Supply and demand determines how many T-shirts a store keeps in stock.Big game hunting and poaching is driven by supply and demand, along with hunters' egos.
Have koalas ever been overhunted?
Yes. Due to the high demand for its fur, particularly from America, the koala was virtually driven to extinction in the early part of the twentieth century.
Difference between demand and supply and what causes each?
The words are just what they say. Demand is how much desire consumers have for a product or service. Supply is how much of a product or service is available. When demand is great and supply is low the price of a product or service increases. When demand is low and supply is great, the price of a product or service decreases. The effect on price is the quantification of supply and demand. Demand in many instances is driven by disposable income and free time. Henry Ford recognized this in increasing the wages of his workers and decreasing their work time. See the related link below.
