0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What the Paris commune demand?
the Paris commune demanded higher wages, better working conditions and lower prices. All the answerers.
What is the purpose of a demand schedule?
A demand schedule, in economics, is a table of the amount of a good demanded at a certain price. Generally the lower the price, the more of that good is demanded.
What is theory of demand in economics?
The theory of demand states that the relation between price and quantity demanded is inversely proportional i.e. if prices go up, quantity demanded falls if prices go down, quantity demanded increases
What is the relation between Price and quantity demand?
The higher the quality demanded, the more tolerance there is for higher prices. Customers will still seek the lowest-priced option that meets their quality demands, but will generally not settle for lower-priced items that are not of sufficient quality.
Why is demand curve downward sloping?
The demand curve is downward sloping for 3 reasons: income effect, substitution effect, and the law of diminishing marginal utility.Income effect - if a product's price falls, the purchasing power of a consumer will increase, and therefore, there will be greater quantity demanded at lower prices; the inverse (higher prices--->less quantity demanded) is also true.Substitution effect - if the product price is lower, consumers will shift from purchasing a substitute (a similar product) to buying more of this particular product, therefore, the quantity demanded is higher at lower prices.Diminishing MU - the more additional units a consumer buys of a good, the less marginal utility they receive from it (they are less happy with buying each new one). So to make them buy more of what they are already buying, you have to lower the price.
Why do people buy more of something at lower prices and less at higher prices?
the law of demand. an inverse relationship between the quantity demanded and the price of the product (the lower the price the higher the quantity demanded).
What will happen if demand increases?
more will be demanded at lower priceType your answer here...
What did the Paris Commune demand?
the Paris commune demanded higher wages, better working conditions and lower prices. All the answerers.
What the Paris commune demand?
the Paris commune demanded higher wages, better working conditions and lower prices. All the answerers.
When does surplus occure?
A surplus occurs when the quantity demanded is less than the quantity supplies. Producers may lower prices when they are left with a surplus of products.
What is the purpose of a demand schedule?
A demand schedule, in economics, is a table of the amount of a good demanded at a certain price. Generally the lower the price, the more of that good is demanded.
What the purpose of a demand schedule?
A demand schedule, in Economics, is a table of the amount of a good demanded at a certain price. Generally the lower the price, the more of that good is demanded.
What is theory of demand in economics?
The theory of demand states that the relation between price and quantity demanded is inversely proportional i.e. if prices go up, quantity demanded falls if prices go down, quantity demanded increases
What is the relation between Price and quantity demand?
The higher the quality demanded, the more tolerance there is for higher prices. Customers will still seek the lowest-priced option that meets their quality demands, but will generally not settle for lower-priced items that are not of sufficient quality.
Why is demand curve downward sloping?
The demand curve is downward sloping for 3 reasons: income effect, substitution effect, and the law of diminishing marginal utility.Income effect - if a product's price falls, the purchasing power of a consumer will increase, and therefore, there will be greater quantity demanded at lower prices; the inverse (higher prices--->less quantity demanded) is also true.Substitution effect - if the product price is lower, consumers will shift from purchasing a substitute (a similar product) to buying more of this particular product, therefore, the quantity demanded is higher at lower prices.Diminishing MU - the more additional units a consumer buys of a good, the less marginal utility they receive from it (they are less happy with buying each new one). So to make them buy more of what they are already buying, you have to lower the price.
Cars prices at auction?
The prices are often lower at car auctions, because there is bidding process and the more bidders you have at your car the more you win...
When equilibrium demanded is greater than quantity the market prices will what?
rise
