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What happens to prices when there is a shortage in the market?
The price goes up if the demand is high
How does a surplus or a shortage of a good or service affect the market price?
A surplus or a shortage of a good or service affects the market price directly. When there is a surplus, the prices goes down and when there is a shortage the price increases due to the demand levels.
What is A market is when there's a rise or expected rise in stock prices across the entire stock market?
bull
How does the price system in a free market economy react to shortage of commodity?
Higher prices
How does a price ceiling undermine the rationing function of market-determined prices?
A price ceiling will undermine the rationing function of market-determined prices by creating a shortage. This is a price which is below equilibrium which will lead to more demand that supply that will cause a shortage.
What happens to prices when there is a shortage in the market?
The price goes up if the demand is high
How does a surplus or a shortage of a good or service affect the market price?
A surplus or a shortage of a good or service affects the market price directly. When there is a surplus, the prices goes down and when there is a shortage the price increases due to the demand levels.
What is A market when there's a rise or expected rise in stock prices across the entire stock market?
bull
What is A market is when there's a rise or expected rise in stock prices across the entire stock market?
bull
Which statement explains why prices rise in a market?
There is excess demand in the market.?
How does the price system in a free market economy react to shortage of commodity?
Higher prices
How does a price ceiling undermine the rationing function of market-determined prices?
A price ceiling will undermine the rationing function of market-determined prices by creating a shortage. This is a price which is below equilibrium which will lead to more demand that supply that will cause a shortage.
Why prices rise in a market?
It is all about 'Supply and Demand'.
When equilibrium demanded is greater than quantity the market prices will what?
rise
How does the market eliminate shortages and surpluses?
The market eliminates shortages and surpluses through the forces of supply and demand. When there is a shortage, prices tend to rise, incentivizing producers to increase supply and attracting more resources to the market. Conversely, when there is a surplus, prices typically fall, prompting producers to reduce output or exit the market. This dynamic adjustment helps restore equilibrium, ensuring that the quantity supplied matches the quantity demanded.
Why would a shortage of OPEC oil at current market prices increase oil prices?
Because world wide demand would still continue and demand or even the percieved demand is what controls the market.
What caused consumer prices to rise following the war?
High demand and a shortage of produced goods.
