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What is in a free enterprise economy supply and demand affect the of a product?
In a free enterprise system, when supply is low and demand is high, prices are higher, but when supply is high and and demand is low, prices are lower.
What is supply and demand economy?
Supply is how much of the product an economy has. The demand is how much the people need the product. These two make the price. Let's say the supply is high and demand is low, the price would be low. If it was the other way around, price would be higher.
What is the rule of supply and demand?
Supply depends on demand.The demand is how much a product is wanted.The supply is how many of a certain product is made.It depends on demand because if a product is not getting enough demand, the supply will come to a stop or become very low.
What happens when a company produces a small quantity of a product and a large number of people want to purchase the product?
When a company produces a small quantity of a product and a large number of people want to purchase the product, the demand will cause the price of the product to go up.
What happens to the price of a good when supply is high but demand is low?
the price of the product gose downaka less $$$$$
Why is aggregate supply related to the price level?
This is in accordance to the Demand & Supply Theory... When the demand for a product is high and its supply is low, this usually causes the price of that commodity to increase Similarly when supply for a product is high and the demand for that product is low, it causes the price of that product to decrease. Hence the supply is inversely related to the price of any product (Provided the Demand is in accordance to the two points mentioned above)
How do apple lower their product?
high supply low demand
What are the Law of Supply and Law of Demand?
In economics, when a commodity is in high demand or in scarce supply, its price will rise; when a commodity is in low demand or plentifully supplied, its price will be lower.The laws of supply and demand dictate that if a product is in short supply, but the demand is high, the price of the product will also rise. If a product is in overabundance, but the demand is low, the price of the product will decrease.
What is in a free enterprise economy supply and demand affect the of a product?
In a free enterprise system, when supply is low and demand is high, prices are higher, but when supply is high and and demand is low, prices are lower.
What is supply and demand economy?
Supply is how much of the product an economy has. The demand is how much the people need the product. These two make the price. Let's say the supply is high and demand is low, the price would be low. If it was the other way around, price would be higher.
What is the rule of supply and demand?
Supply depends on demand.The demand is how much a product is wanted.The supply is how many of a certain product is made.It depends on demand because if a product is not getting enough demand, the supply will come to a stop or become very low.
When a company produces a large quantity of a product but not many people purchase the product is true?
When a company produces a large quantity of a product but not many people purchase the product the supply is high, demand is low, and the product is priced low.
What happens when a company produces a small quantity of a product and a large number of people want to purchase the product?
When a company produces a small quantity of a product and a large number of people want to purchase the product, the demand will cause the price of the product to go up.
Supply has the potential to contribute to what?
Supply has the potential to contribute to demand. When a product is highly demanded, but the supply is low, a producer can increase their price. This process will increase revenue for the business.
When a company produces a small quantity of product and a large number of people want to purchase the product what is true?
Supply is low, demand is high, and the product is priced high.
What happens to the price of a good when supply is high but demand is low?
the price of the product gose downaka less $$$$$
When a company produces a small quantity of a product and a large number of people want to purchase the product, which of the following is true?
Supply is low, demand is high, and the product is priced high.
