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What is an example of something that reduces demand for a product?
EncofBizandFinance
Often when prices are too high and demand for a product or service lessens, it is because consumers have found a suitable substitute.
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∙ 13y ago
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What does it mean that the demand for a product is high?
if a product is in high demand it means lots of people want/like it, if something is in demand someone wants it, high demand means that product is popular and people want it, it's in high demand.
What is public demand?
Public demand is the demand placed on something by the public. It may be a product, a new law, or almost anything, and is the level to which the public does or does not want something.
Example of market equilibrium?
Market equilibrium is when the demand of the product and the supply of the product is equal. If either demand or supply changes, then the equilibrium adjusts.
What is the between derived demand and joint demand?
Derived demand occurs when there is a change of customers' demand on particular product and produces have to buy new production equipment, which means that the change in consumer demand for a product affects demand for all firms involved in the production of that product. Joint demand has nothing to do with changing the production equipments. In this case, demand of the product depends on demand of its compliment. For example, demand on inc depends on demand on printers.
What is zero demand?
When the demand for a product is not present yet the product is bought then it is called zero demand...for example - the demand for old newspapers. It may be bought for other purposes and not for reading it or historians and others might buy to read it too.
What is composite demand?
Composite demand is a demand for a good that has many uses. An example is oil it is demanded as a fuel.
What is an example for demand?
Derived demand comes from demand for another product. For example, if coal is in high demand, then there will be derived demand for mining. Another example: A farmer grows crops. In order to grow crops he needs fertilizer. Therefore, the amount of fertilizer he needs to buy, will derive from the amount of crops he needs to grow. Basically, derived demand comes as a result of demand for something else.
What does it mean that the demand for a product is high?
if a product is in high demand it means lots of people want/like it, if something is in demand someone wants it, high demand means that product is popular and people want it, it's in high demand.
What is an example for derived demand?
Derived demand comes from demand for another product. For example, if coal is in high demand, then there will be derived demand for mining. Another example: A farmer grows crops. In order to grow crops he needs fertilizer. Therefore, the amount of fertilizer he needs to buy, will derive from the amount of crops he needs to grow. Basically, derived demand comes as a result of demand for something else.
Which example represents a positive correlation?
Demand and quantity sold is an example of positive correlation. As the number of people in demand of a product increases, the quantity sold of that product also increases.
What is public demand?
Public demand is the demand placed on something by the public. It may be a product, a new law, or almost anything, and is the level to which the public does or does not want something.
Example of market equilibrium?
Market equilibrium is when the demand of the product and the supply of the product is equal. If either demand or supply changes, then the equilibrium adjusts.
What is the between derived demand and joint demand?
Derived demand occurs when there is a change of customers' demand on particular product and produces have to buy new production equipment, which means that the change in consumer demand for a product affects demand for all firms involved in the production of that product. Joint demand has nothing to do with changing the production equipments. In this case, demand of the product depends on demand of its compliment. For example, demand on inc depends on demand on printers.
What is the example of unwholesome demand?
Unwholesome demand is the desire for something that is not suitable or healthy. An example of unwholesome demand would be alcohol for the person who is an alcoholic.
What is zero demand?
When the demand for a product is not present yet the product is bought then it is called zero demand...for example - the demand for old newspapers. It may be bought for other purposes and not for reading it or historians and others might buy to read it too.
How elasticity of demand effect managerial decisions?
Elasticity of demand measures how much demand for a product will change if the price of that product is changed. Something highly elastic will be greatly affected by price changes (something like a hotdog for example, if a vendor raises his price then demand will drop because people can go elsewhere-demand is elastic). So management must be aware of how consumers will react to price changes. Normally, lowering the price of a good will bring in more customers if the demand for that good is elastic. If it is inelastic, then a lower price will not increase demand much.
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
