answersLogoWhite

0

What else can I help you with?

Continue Learning about Economics

What is a demand for a product?

A demand for a product is when a customer expresses a desire or willingness to purchase a product. It is the amount of a product that customers are willing to buy at a specific price. Generally the demand for a product is determined by the price of the product the customers income the availability of a substitute and the customers preferences. When the price rises demand falls and when the price decreases demand increases.Factors that affect the demand for a product include: Price of the product Customers income Availability of a substitute Customers preferencesIf the price of the product rises then the demand for the product falls and vice versa. This is due to the fact that customers are willing to pay a certain price for a product and when the price increases customers will be less likely to purchase the product.


What is caused by a raise in the price of a product?

The raise in the price of a product causes an increase in competition.


Why doesnt coke lose all its customers when it raises its price?

because of the product itself. customers buy the product not only looking at the price but because of the quality of the product. if consumers are satisfied with the product, they will entertain the product even if it raises price.


What is price sensitive product?

A product that when it's price is changed results in a bigger change in demand


Does the quality determine the price of a product?

most of the times yes but price usually depends on the productivity costs not on the quality of the product. A good quality product can be found in low price as and a bad quality product can be branded and expensive.

Related Questions

What is price varying?

Price varying refers to the practice of changing the price of a product or service based on different factors such as demand, supply, time, or customer characteristics. This strategy allows businesses to optimize revenue by adjusting prices in response to market conditions, consumer behavior, or competitive dynamics. Common examples include dynamic pricing used by airlines and hotels, where prices fluctuate based on booking time and demand. Ultimately, price varying aims to maximize profitability while remaining competitive.


What is a demand for a product?

A demand for a product is when a customer expresses a desire or willingness to purchase a product. It is the amount of a product that customers are willing to buy at a specific price. Generally the demand for a product is determined by the price of the product the customers income the availability of a substitute and the customers preferences. When the price rises demand falls and when the price decreases demand increases.Factors that affect the demand for a product include: Price of the product Customers income Availability of a substitute Customers preferencesIf the price of the product rises then the demand for the product falls and vice versa. This is due to the fact that customers are willing to pay a certain price for a product and when the price increases customers will be less likely to purchase the product.


If selling price is S and product price is P then what will be the profit?

Selling price is somethng on which the profit depends so its Selling price - Product price = profit


What is caused by a raise in the price of a product?

The raise in the price of a product causes an increase in competition.


What is FOR Price?

FOR price is the price of a product inclusive of Freight Charges.


Why doesnt coke lose its customers when it raises its price?

because of the product itself. customers buy the product not only looking at the price but because of the quality of the product. if consumers are satisfied with the product, they will entertain the product even if it raises price.


Change in market price?

Changes in the market price is determined by demand of a product. If consumers demand the product, then the price will increase.


Why doesnt coke lose all its customers when it raises its price?

because of the product itself. customers buy the product not only looking at the price but because of the quality of the product. if consumers are satisfied with the product, they will entertain the product even if it raises price.


What is price sensitive product?

A product that when it's price is changed results in a bigger change in demand


Which effect does scarcity have on the price of the product if the demand stays the same?

The scarcer the product, the higher the price.


What are Kawasaki product prices?

the price of a kawasaki product


Does the quality determine the price of a product?

most of the times yes but price usually depends on the productivity costs not on the quality of the product. A good quality product can be found in low price as and a bad quality product can be branded and expensive.

Trending Questions
What are the economic uses for halite? If the Balance of payment always always balances then why you have deficit in the balance of payment What measure can be government take to address an in-balance in the Balance of payment? Is there a 100000 zloty note? What were the important ideas on economics offered by Ronald Coase? Why do globalization and increasing independence pose risk to the global economy? The price that is paid for the use of another's money is called? What is the best definition of nominal gross domestic product? What is the value one doller in inr in year 1947? A market informs producers and consumers through what? How much is mark maguire worth? What measures the rate of inflation by comparing changes in the prices of a representative basket of goods and services such as clothing food housing and utilities? What type of business is owned by two or more people? Does bartering have lower transaction costs? How did American businesses take advantage of the war in Europe? Which economic indicator measures the change in prices of specific goods and services over time? A multiyear drought in Florida has dried the land so that rampant wildfires have destroyed many orange groves Florida oranges supply much of the nation's orange juice. Write a correct statement? Is it true or false that Ida Tarbell wrote about Standard Oil's methods of eliminating competition? What is dept trap in economics? What is the Problem statement on real estate agency? When a country is able to produce a product at a lower price than other countries it is said to have?