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Does the demand for a product in general tend to be more inelastic than the demand for that product from a particular supplier?
no, product demand in general tends to be more elastic because there are more options the consumer can choose from. demand for the product in general allow for the principle of "substitution" to be used by the consumer. if one producers price is too high then the customer will be able to shop around for the best price available for that product. demand from a singular supplier is more price sensitive, and with demand being inversely related to price and increase in price negatively impacts the level of demand and visa-versa
The demand for capital by a firm is based on the demand for the product that the capital produces This relationship is referred to as?
I can tell you it is one of the 4 items: product demand, derived demand, resource utilization, or cost minimization
What is importance of elasticity?
Cross elasticity of demand is the responsiveness of demand for one product to a change in the price of another product. It will help predicts how prices of products will act.
Differences between Demand and quantity demand?
Demand refers to the entire relationship between the prices and the quality of the product. Quality demand refers to one particular point on the demand curve.
What is importance of cross elasticity?
Cross elasticity of demand is the responsiveness of demand for one product to a change in the price of another product. It will help predicts how prices of products will act.
Does the demand for a product in general tend to be more inelastic than the demand for that product from a particular supplier?
no, product demand in general tends to be more elastic because there are more options the consumer can choose from. demand for the product in general allow for the principle of "substitution" to be used by the consumer. if one producers price is too high then the customer will be able to shop around for the best price available for that product. demand from a singular supplier is more price sensitive, and with demand being inversely related to price and increase in price negatively impacts the level of demand and visa-versa
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.
Where can one watch Siebel CRM on demand?
Siebel CRM On Demand is not a show that can be watched, but rather a Customer Relations Management service offered for sale by the Oracle company. Promotional videos of the product can be found on the main Oracle website.
The demand for capital by a firm is based on the demand for the product that the capital produces This relationship is referred to as?
I can tell you it is one of the 4 items: product demand, derived demand, resource utilization, or cost minimization
When one actually buys the product rather than just desiring the product?
Demand
What is importance of elasticity?
Cross elasticity of demand is the responsiveness of demand for one product to a change in the price of another product. It will help predicts how prices of products will act.
Differences between Demand and quantity demand?
Demand refers to the entire relationship between the prices and the quality of the product. Quality demand refers to one particular point on the demand curve.
startup?
a company in the first stages of operations. Startups are founded by one or more entrepreneurs who want to develop a product or service for which they believe there is demand.
What is importance of cross elasticity?
Cross elasticity of demand is the responsiveness of demand for one product to a change in the price of another product. It will help predicts how prices of products will act.
Law of supply and demand which one starts?
In the law of supply and demand, the first to start is the demand as customers are wanting the particular service or product that is being offered.
What is an example of a product which has a perfectly elastic demand?
One example is money. When one charges any value more than the face value of a piece of currency, the revenue drops to zero, because the value of the money given up by the consumer is larger than the value obtained. This means that no one would by your product, thus bringing revenue to zero. --> money is the example for highly elastic demand, isn't it?
What will happen to demand for a commodity if the price of its complementary falls?
Complement goods are those goods which uses collectively or side by side e.g petrol and cars. If the demand of one good changes then demand of other good move in the same direction. If the price of product complementary falls then the demand of complementary product increases according to the demand law which in turn increase the demand of product. Suppose the prices of petrol falls which will increase the demand of petrol which in turn in increase the demand of cars.
