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If something is in high demand but there is a limited supply of it then the price goes up. Kinda of like the price of gasoline. There isn't a limited supply and alot alot of people need it for their cars and other things etc so it drives the price. If there isn't a high demand for it then the price is generally reasonable. They are inversely related. Directly related is supply and demand.
What else can I help you with?
Relationship between demand and supply?
1:inverse relationship between supply and demand 2:supply depends upon the demand of a commodity, that it might be positive or negative. 3:supply always depends upon demand but demand never depends to supply. 4:a supply never affects the demand of a commodity but demand always affect to its supply. 5:demand is the initial stage but supply is the stage after demand. 6:supply have a positive relations to price whereas demand has a negative relations with price. 7:supply and price has a direct relations or positive relation. 8:law of supply relates to the price and supply of a particular commodity in a particular time period. 9:price has a connections with demand and supply that it affects both supply in a positive way and demand in a negative way and if price changes then both demand and supply will change. 10:demand curve shows the changes positions of demand in a different price level of a particular commodity where demand schedule also shows the changes positions of demand in a different price level of a particular commodity, hence both have a common objectives to depict the same result in a different way.
Is a relationship between the price of pies and the number of pies Jacob buys a positive relationship or a negative relationship?
The relationship between the price of pies and the number of pies Jacob buys is typically a negative relationship. As the price of pies increases, the number of pies Jacob is likely to buy decreases, assuming his budget remains constant. Conversely, if the price decreases, he is likely to buy more pies. This behavior aligns with the law of demand in economics.
What is the difference between income elasticity demand and price elasticity demand?
price elasticity is the degree to which demand for a good will change relative to a change in the price of that good. Income elasticity is the degree to which demand for a good will change relative to a change in the spending power of the consumer. it is the percentage change in quantity demanded/percentage change in price.
What is the relationship between the speed of the components and the price?
The price is higher if the speed is slower The price is higher if the speed is slower
How do the changes of demand affect the price?
Higher demand, the higher the price goes. Remove the demand for something and then the price drops.
What are the reasons for negative relationship between price and quantity demanded?
Price and demand have an inverse relationship. Therefore, if the price goes up, the demand goes down; the price goes down, the demand goes up.
What does aggregate demand curve shows?
the inverse relationship between price level and RGDP demanded
In a law of demand there is an inverse relationship between the price and quality demanded. True or False?
True
What is the demand relationship between price and quantity for this product?
The demand relationship between price and quantity for a product is typically inverse, meaning that as the price of the product increases, the quantity demanded by consumers tends to decrease, and vice versa. This is known as the law of demand.
How is the law of demand illustrated by a demand schedule and a demand curve?
increase in its price and decreases with decrease in its price, other things remaining constant
What is behind the demand curve?
Law of demand is behind the downward sloping of demand curve,i.e. inverse relationship between price and quantity demanded.
Demand curve slopes downwards from left to right. this is the negative slope that shows the inverse relationship between price and demand. explain why does the demand curve slope downwards?
because demand decreases as price increases :)
How is the law of demand related to the demand curve?
Law of demand is the reason of the downward sloping of demand curve.Law of demand states the inverse relationship of demand of a commodity and it's price,and demand curve represents this inverse relationship of demand and price.So in this way they both are related.
How is law of demand related to the demand curve?
Law of demand is the reason of the downward sloping of demand curve.Law of demand states the inverse relationship of demand of a commodity and it's price,and demand curve represents this inverse relationship of demand and price.So in this way they both are related.
How can one determine the inverse demand function for a given market?
To determine the inverse demand function for a market, you can start by collecting data on the market price and quantity demanded. Plotting this data on a graph and finding the slope will help you derive the inverse demand function, which shows the relationship between price and quantity demanded in the market.
What is the relationship between the price and the quantity demanded?
The relationship between price and quantity demanded is inverse, meaning as the price of a product increases, the quantity demanded by consumers tends to decrease, and vice versa. This is known as the law of demand in economics.
What is the demand of law?
As the price of a good decreases, the amount that consumers are willing to purchase increases. It states the inverse relationship between price and demand; that when prices are high, there is a low amount of demand and when prices are low there is a high amount of demand. The price is the indicator in this law.
