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What happens when Demand is low product and quantity is high?
prices goes higher
What usually happens to prices when there is great demand for a product?
if a high demand of a product when it is commen (ex: tooth brushes) it would go down. if its uncommen (ex: solid gold tooth brushes) it would go up
What happens to the price when there is a shortage of products?
The prices increases, because the demand is higher for the product, since there is less of it.
What kind of relationship does demand have with prices?
the relationship demand has with prices is that when the demand for a product is high the prices go high as well, like gas and food....
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 happens when Demand is low product and quantity is high?
prices goes higher
What usually happens to prices when there is great demand for a product?
if a high demand of a product when it is commen (ex: tooth brushes) it would go down. if its uncommen (ex: solid gold tooth brushes) it would go up
What happens to the price when there is a shortage of products?
The prices increases, because the demand is higher for the product, since there is less of it.
What happens if the prices of commodities fall?
When the prices of the commodities fall, the demand of that commodity usually increases. On the same note the supply of the given commodity usually decreases as well.
What kind of relationship does demand have with prices?
the relationship demand has with prices is that when the demand for a product is high the prices go high as well, like gas and food....
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 is most likely to happens to the price of a product if demand and supply increases at the same rate?
prices stay stable. studddy islannd ! :)
What happens to the price of a good or service when there is excess demand?
When there is excess demand for a good or service, the price typically increases. This is because the high demand creates a scarcity of the product, leading sellers to raise prices to balance supply and demand.
The supply of a product normally decreases if what happens?
The supply of a product normally decreases if a retail store offers a sale on the product. The shortage after the sale might tend to make prices rise if the product is still in high demand.
Are Economic systems based on supply and demand?
Yes, economic systems are fundamentally based on supply and demand, which determine the prices of goods and services in a market. Supply refers to the quantity of a product that producers are willing to sell at various prices, while demand indicates how much of a product consumers are willing and able to purchase. When supply exceeds demand, prices typically fall, and when demand exceeds supply, prices usually rise. This interaction helps allocate resources efficiently within an economy.
What happens to prices in a free competitive market?
In a free competitive market, prices are determined by supply and demand. When demand for a product or service is high and supply is limited, prices tend to increase. Conversely, when demand is low and supply is abundant, prices tend to decrease. This dynamic process of supply and demand helps to ensure that prices in a free competitive market are set at a level that reflects the true value of goods and services.
What happens to prices when demand is greater than suply?
They rise. Supply & demand.
