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What is total control of the supply of a product or service?
A monopoly!
What is monoploy?
Monopoly (monos=single or alone, polein =to sell) means exclusive control of the market supply of a product or service.
How does the price of a product or service affect its supply?
The price of a product or service directly influences its supply. When the price of a product or service increases, suppliers are more willing to produce and sell more of it to take advantage of the higher profits. This leads to an increase in supply. Conversely, if the price decreases, suppliers may reduce production or supply, as it may not be as profitable for them.
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.
A market where a few large suppliers control the supply of a product is called?
Oligopoly.
What is total control of the supply of a product or service?
A monopoly!
One company or a small group of cooperating companies having control of the supply of a product or service is known as a?
monopoly
What is monoploy?
Monopoly (monos=single or alone, polein =to sell) means exclusive control of the market supply of a product or service.
How does the price of a product or service affect its supply?
The price of a product or service directly influences its supply. When the price of a product or service increases, suppliers are more willing to produce and sell more of it to take advantage of the higher profits. This leads to an increase in supply. Conversely, if the price decreases, suppliers may reduce production or supply, as it may not be as profitable for them.
What does the trailer air supply control do?
what does the service air line do
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.
A market where a few large suppliers control the supply of a product is called?
Oligopoly.
How does the demand for a product or service affect its price in the market?
The demand for a product or service affects its price in the market by influencing the balance between supply and demand. When demand is high and supply is limited, prices tend to increase. Conversely, when demand is low and supply is abundant, prices tend to decrease. This relationship between demand and price is a key factor in determining the market value of a product or service.
What is the term that refers to the sequence of activities involved in producing a product or service?
Supply Chain
A single organization which has total control of a specific product or service?
A monopoly.
Is it easier to control the quality of a service than the quality of a product?
yes
Is easier to control the quality of a service than the quality of a product?
yes
