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Deflation
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What is it called if two goods are complements?
A decrease in the price of one will increase the demand for the other.
Two goods are substitutes if a decrease in the price of one good?
Price will increase
How does supplies affect the price of a product?
A higher price will cause an increase in supply, assuming that all other factors remain constant. Likewise, a decrease in price will cause a decrease of supply and an increase in demand.
What happen to most goods and services when there is an increase in price?
When there is an increase in price, there is a decrease in the quantity demanded.
How price of related goods affect demand?
Price of related goods fall into two categories: substitutes and complements. Complements are when a price decrease in one good increases the demand of another good. Substitutes are when a price decrease in one good decreases the demand for another good.
What is it called if two goods are complements?
A decrease in the price of one will increase the demand for the other.
Two goods are substitutes if a decrease in the price of one good?
Price will increase
Why did the price of some comsumer goods decrease the 1920s?
dsestrret
When the decrease in the price of one good causes the demand for another good to decrease the goods are?
substitue
How does supplies affect the price of a product?
A higher price will cause an increase in supply, assuming that all other factors remain constant. Likewise, a decrease in price will cause a decrease of supply and an increase in demand.
What happen to most goods and services when there is an increase in price?
When there is an increase in price, there is a decrease in the quantity demanded.
Costs of goods sold is also called?
price at which goods are sold is called selling price
How price of related goods affect demand?
Price of related goods fall into two categories: substitutes and complements. Complements are when a price decrease in one good increases the demand of another good. Substitutes are when a price decrease in one good decreases the demand for another good.
An overall rise in the prices of goods and servies?
Inflation is an overall rise in the prices of goods and services. When the usual price level rises, each unit of currency buys fewer services and goods.
How would mass production effect the price of goods?
It would make the value of the item decrease.
What is most likely to lead to a decrease in the price of goods?
Demand decreases and supply remains the same.
How do substitute goods and complementary goods affect demand for another good?
Substitutes and complements is the fact that a change in price of one of the goods has an impact on the demand for the other good. For substitutes, an increase in the price of one of the goods will increase demand for the substitute good. (It's probably not surprising that an increase in the price of Coke would increase the demand for Pepsi as some consumers switch over from Coke to Pepsi.) It's also the case that a decrease in the price of one of the goods will decrease demand for the substitute good.
