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What will most likely happen if a toy supplier sets a price to low for a product?
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What is an increase in demand likely to lead to?
If there is an increase in demand, there will be increase in the price of the product if the supply remains the same. But if the manufacturer or supplier is able to supply increased quantity of product there will be no major effect.
What would most likely happen to the price of a product if the supply of that product decreased?
Supply is inversely proportional to inflation, so the priceof the product will decrease
What is most likely to happen to the price of a product if demand and supply increase at the same rate?
prices stay stable. studddy islannd ! :)
What is it called when a business is in compete control over the supply of a product?
That's called a 'monopoly' - Since they are the only supplier of the product - they can fix the price.
How do you write a letter to supplier to reduce price due to reduction in raw material price?
In an ideal world, when the price of a raw ingredient is reduced, the price of the product should also be reduced. When this does not happen it would be appropriate to request this price reduction in writing. In the letter, the fluctuation in prices should be noted along with any precedent of the action.
What is an increase in demand likely to lead to?
If there is an increase in demand, there will be increase in the price of the product if the supply remains the same. But if the manufacturer or supplier is able to supply increased quantity of product there will be no major effect.
What would most likely happen to the price of a product if the supply of that product decreased?
Supply is inversely proportional to inflation, so the priceof the product will decrease
What are the primary concerns of business customer?
Price, product quality, service, and supplier relationships.
What is most likely to happen to the price of a product if demand and supply increase at the same rate?
prices stay stable. studddy islannd ! :)
What is it called when a business is in compete control over the supply of a product?
That's called a 'monopoly' - Since they are the only supplier of the product - they can fix the price.
How do you write a letter to supplier to reduce price due to reduction in raw material price?
In an ideal world, when the price of a raw ingredient is reduced, the price of the product should also be reduced. When this does not happen it would be appropriate to request this price reduction in writing. In the letter, the fluctuation in prices should be noted along with any precedent of the action.
Does the demand for a product in general tend to be more inelastic than the demand for that product from a particular supplier?
no, product demand in general tends to be more elastic because there are more options the consumer can choose from. demand for the product in general allow for the principle of "substitution" to be used by the consumer. if one producers price is too high then the customer will be able to shop around for the best price available for that product. demand from a singular supplier is more price sensitive, and with demand being inversely related to price and increase in price negatively impacts the level of demand and visa-versa
How is supplier cost related to supplier price?
Supplier cost is usually lower than supplier price because once something has been bought, the supplier would mark up the price in order to make a profit.
Supplier price response to excess demand?
supplier would increase the price
What will happen when the supply of a product increases According to Adam Smith?
the price of the product will decrease
Why do some firms no longer rely only on competitive bidding when awarding purchase contracts?
Every firm want that they made a low cost product and earn more profit and that way they don't rely on one supplier because price of a product change after a some time so at that time other supplier offer a less price product which we wants
What is the price per therm for LNG in the UK?
That depends on who your supplier is ! Every supplier will set their own price.
