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Where does all the buying selling supply and demand for a product take place?
markets.
Can factors that affect demand also affect supply?
yes because they might demand more oil and eventually that ceartain place will start to run out
What if supply exceeds demand?
When supply exceeds demand, it is known as a surplus.Surpluses only occur among rational producers and consumers if a regulatory price floor is in effect (that is, the government mandates that the price of the good or service in question not go below a certain level). If no such regulation is in place, the price of the good or service will lower to the point where supply and demand are equal to one another.If the price of the good is lowered, then demand will increase.
When demand is greater than supply does prices decrease?
If there is no form of price control in place then yes it does.
Where does all the buying selling supply and demand of a product take place?
The buying, selling, supply, and demand of a product take place in various markets, both physical and digital. Traditional markets include retail stores and wholesale markets, while online marketplaces like e-commerce websites facilitate transactions globally. These markets operate based on the principles of supply and demand, which determine prices and availability of products. Overall, they create a dynamic environment where consumers and producers interact.
Where does all buying selling supply and demand for a product take place?
Market
Where does all the buying selling supply and demand for a product take place?
markets.
A location that place where two lines cross intersect?
the place where two lines intersect is a vertex.
Can factors that affect demand also affect supply?
yes because they might demand more oil and eventually that ceartain place will start to run out
Define a market and identify and explain how various market forces would determine the price of a product or service?
If we bring together the supply and demand curves onto one diagram, we find that they intersect at only one price. This is the market or equilibrium price. Only at this price is the quantity demanded equally to the quantity supplied. The equilibrium or market price is arrived at by a gradual process. If trading takes place at prices other than the market price, there will be either a shortage or a surplus, which will cause the price to move until it settles at the equilibrium level.
What if supply exceeds demand?
When supply exceeds demand, it is known as a surplus.Surpluses only occur among rational producers and consumers if a regulatory price floor is in effect (that is, the government mandates that the price of the good or service in question not go below a certain level). If no such regulation is in place, the price of the good or service will lower to the point where supply and demand are equal to one another.If the price of the good is lowered, then demand will increase.
What are elimination of excess demand and excess supply?
D. EquilibriumWhen supply and demand are equal (i.e. when the supply function and demand function intersect) the economy is said to be at equilibrium. At this point, the allocation of goods is at its most efficient because the amount of goods being supplied is exactly the same as the amount of goods being demanded. Thus, everyone (individuals, firms, or countries) is satisfied with the current economic condition. At the given price, suppliers are selling all the goods that they have produced and consumers are getting all the goods that they are demanding.As you can see on the chart, equilibrium occurs at the intersection of the demand and supply curve, which indicates no allocative inefficiency. At this point, the price of the goods will be P* and the quantity will be Q*. These figures are referred to as equilibrium price and quantity.In the real market place equilibrium can only ever be reached in theory, so the prices of goods and services are constantly changing in relation to fluctuations in demand and supply.
A location the place where two lines cross or intersect?
Two lines cross or intersect at a point.
When demand is greater than supply does prices decrease?
If there is no form of price control in place then yes it does.
Place where roads or paths meet?
Intersect
What do you call a place where two places intersect?
no
The place where two lines cross or intersect?
point
