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Orcording to law if you have high supply with low demend you get lower prices?
When supply is greater than demand, consumers are at liberty to choose from their many options. This leads to sellers lowering their prices to remain competitive, and entice customers to choose them.
Economic rivalry among sellers for the consumers' dollars is called?
competition
What is the struggle between buyers and sellers to get the best products at the lowest prices?
That Would Be COMPETITION
How does a tax levied on the sellers of a good shift the burden of taxation?
When a tax is imposed on sellers of a good, they often pass on the cost to consumers by raising prices. This shift in burden results in consumers paying more for the product, ultimately bearing the brunt of the tax.
When a company produces more of a product than what consumers demand the price of that product will...?
When a company produces more of a product than what consumers demand, the price of that product will typically decrease. This happens because the excess supply creates a surplus, prompting sellers to lower prices to attract buyers. As prices drop, the market may eventually reach an equilibrium where supply meets demand.
Orcording to law if you have high supply with low demend you get lower prices?
When supply is greater than demand, consumers are at liberty to choose from their many options. This leads to sellers lowering their prices to remain competitive, and entice customers to choose them.
Economic rivalry among sellers for the consumers' dollars is called?
competition
What is the retailing sector?
retailing sector is comprise of whole sellers managers and consumers.
What is the struggle between buyers and sellers to get the best products at the lowest prices?
That Would Be COMPETITION
How does a tax levied on the sellers of a good shift the burden of taxation?
When a tax is imposed on sellers of a good, they often pass on the cost to consumers by raising prices. This shift in burden results in consumers paying more for the product, ultimately bearing the brunt of the tax.
What is the needs of consumer?
Consumers are always exploited by traders and sellers. Consumer awareness is needed to prevent the exploitation of consumers by traders and manufacturers. Consumers must also be made aware of their rights and duties.
When a company produces more of a product than what consumers demand the price of that product will...?
When a company produces more of a product than what consumers demand, the price of that product will typically decrease. This happens because the excess supply creates a surplus, prompting sellers to lower prices to attract buyers. As prices drop, the market may eventually reach an equilibrium where supply meets demand.
What condition will both consumers and sellers benefit?
Both consumers and sellers benefit in a competitive market where supply meets demand. In such a scenario, consumers enjoy lower prices and increased choices, while sellers benefit from higher sales volumes and potential market share. This equilibrium fosters innovation and quality improvements, creating a win-win situation for both parties. Overall, a balanced market encourages healthy economic growth and satisfaction among all participants.
Why does competition among sellers result in better customer service?
Companies use good service to attract customers.
What is the communication between buyers and sellers called?
When consumers pay high prices, producers know that they are using their ___________ well.
In a market with many sellers businesses compete for customers by offering and .?
In a market with many sellers, businesses compete for customers by offering better prices and enhanced product features or services. They may also focus on improving customer service, increasing convenience, and implementing effective marketing strategies to differentiate themselves. This competition drives innovation and can lead to better quality and value for consumers. Ultimately, the goal is to attract and retain customers in a crowded marketplace.
How all buyers and sellers can win the economic competition when they are allowed to trade under free market condition?
In a free market, buyers and sellers can compete freely, leading to the efficient allocation of resources and the optimal pricing of goods and services. Sellers innovate and improve their offerings to attract more customers, while buyers benefit from a wider selection and competitive prices. This dynamic encourages higher quality and lower costs, ultimately creating a win-win situation where consumers enjoy better products and sellers can thrive in a vibrant marketplace. Overall, the competition fosters economic growth and increases overall welfare in society.
