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Why is aggregate supply related to the price level?
This is in accordance to the Demand & Supply Theory... When the demand for a product is high and its supply is low, this usually causes the price of that commodity to increase Similarly when supply for a product is high and the demand for that product is low, it causes the price of that product to decrease. Hence the supply is inversely related to the price of any product (Provided the Demand is in accordance to the two points mentioned above)
What causes the labor supply curve to shift?
Changes in market wages cause a movement along the labour supply curve, adjusting employment levels for certain wages; whereas shifts of the curve will change employment levels at any given wages. Shifts are caused by: changes inthe demongraphic: which can affect supply of labour of certain age groups, the low bitrth rate of the 70s has decreased tge supply of young labour in the 90s, atany given wage. sectoral changes: the service industry and low-pay sectors employ increasingly high proportions of young people. The increasing emphais on skill attainment means that young people are unlikly to be demand in high-level jobs, who offer them uncompetitive wages, hence more will be attracted tothe sector where the respective demand is higher. Sectoral shifts can shift supply curve.
What are some ways to justify your salary?
There is only ONE way...and it goes to the very basics of capitalism... Supply and Demand. YOU and your time + expertice are nothing more than a commodity that your company aquires in order to do business. You, hopefully, are not as expendable as a ream of paper but you are really only that...a tool to help the company do business. If you are not in high demand or the market is 'flooded', your 'price' will be low. On the other hand, if you and people like you are in high demand or there are only a few of you to fill a ton of slots...name you own price. Brutal but true.
By buying or not buying goods and services?
By buying or not buying goods and services is what will determine the economic growth of a country. Failure to buy means that there is low demand while buying implies high demand.
How can financial resources affect a person's diet?
Financial resources can affect diet, as having a low income can affect the budget. Families with low income may only be able to afford cheap food products, where as families with high income can afford to buy high quality food products. Cheap food products contain high amounts of fat and sugar can have an affect on a persons health and lifestyle. The majority of people with high income, who are able to afford higher quality food products have good health and a healthy lifestyle.
What is in a free enterprise economy supply and demand affect the of a product?
In a free enterprise system, when supply is low and demand is high, prices are higher, but when supply is high and and demand is low, prices are lower.
What does an increase in supply of an item usually mean for a consumer?
lots of supply and low demand = lower prices lots of demand and low supply = higher prices demand and supply high = normal prices demand and supply low = normal prices
What are high prices often caused by?
low supply high demand.
Why do the prices of fresh vegetables fall when they are in season and draw supply and demand diagrams to illustrate?
It is supposed to be the optimal meeting of demand and supply. There is a high demand for fresh vegetables, which are flavorful and healthy. There is an equally high supply. Buyer and producer each meet their needs. Prices go up if supply is low, demand high. Prices go further down if supply is high, demand low.
How do apple lower their product?
high supply low demand
What is it called When the demand is high and supply is low?
A seller's market.
Why is dill so expensive?
Low supply, high demand.
What happens to price if demand is high and supply is low?
What ever the demand is it's scarce
What are the Law of Supply and Law of Demand?
In economics, when a commodity is in high demand or in scarce supply, its price will rise; when a commodity is in low demand or plentifully supplied, its price will be lower.The laws of supply and demand dictate that if a product is in short supply, but the demand is high, the price of the product will also rise. If a product is in overabundance, but the demand is low, the price of the product will decrease.
What is the difference between price and supply?
if the supply is low and the demand is high, then the price of the good will be high. if there is high supply but low demand, then the price will be low. the price of a good or service is determined by the relationship between supply and demand. look for any basic macro or micro economics books and it should give you a very good explanation on the subject also pay attention to the graphs of supply and demand and you will get a better understanding of the relationship between supply and demand.
The natural forces of supply and demand?
The biggest force of supply and demand relates to price if there is a low supply and and a high demand , the supply goes to those that are willing to pay the most.
What happenes when supply is low and demand is high?
The price of the supplies get higher.
