0
Supply and Demand
Supply and Demand is an economic model that helps create a competitive market place. It consist of a set of four basic laws.
467 Questions
Many entities control gas prices. When the U.S. government places tax on gas that is a price control. When the U.S. government keeps oil companies from drilling and building refineries, or making the cost exorbitant, that affects gas prices. When the Middle East countries cut back the amount of oil they drill for, that causes gas prices to rise. The evrironmentalists, putting heavy regulations on gasoline raises gas prices.
These are just a few that affect the price of gas.
What are the characteristics of production function?
The following are the features of the production function:
1. It involves transformation of raw materials into finished product.
2. The place where production takes place is known as a factory.
3. Production is undertaken in various departments, such as production and service department
of a factory.
4. Production may involve more than one process or operation.
5. It can be undertaken either manually or mechanically.
6. It is based on technology which may be either indigenous or imported.
7. Production is undertaken on large scale basis in recent times.
8. Production process involves combination of resources, such as materials, men, money,
machinery, management.
9. Production process leads to uniformity of finished goods.
10. In modern times, production process is highly specialised.
BY LM HARI KUMAAR - ALGAPPA UNIVERSITY.
What is manpower demand and supply forecast?
The two different sections of manpower forecasting are the manpower demand forecasting and the manpower supply forecasting. These techniques are used to regulate the supply and demand balance.
If many people want to buy a product but not enough of product exists what is that called?
That is called a shortage of the product. A shortage happens whenever the demand (number of people wanting a product) is greater than the supply (quantity of available product).
Why does a five-day Disneyland pass cost only 2.5 times more than a one-day pass costs?
They like to capitalize because a 5 day vacation is not as common as a two one, so if you are there for the weekend (2 days), you are paying for an extra half day.
Example of supply create its own demand?
For example > Supply means somebody did work to create that supply, work means somebody earned wages by creating that supply(producing something which is going to be sold out). Wages is what enable that worker to then demand goods and services from other workers. Which then becomes their wages, and so on.
Difference between demand and supply of money?
The supply side deals with relationship between the price and the quantity. The demand side deals with the volumes that buyers are willing to purchase at various prices
How does supply and demand affect the price of a product?
the higher the demand the higher the price.the lower the demand the lower the price.
madarchode machudda
Effects of determinants of demand and supply on telecoms industry?
Determinats of demand * Income * Taste or Preference * Prices of substitutes or complements * Expectations of the future * Population Determinants of Supply * Technology * Factor prices * The number of Suppliers * Expectations of the future * Environmental conditions
What is product characteristics?
A product characteristic is an attribute or property of the product that describes the product's ability to satisfy its purpose in a larger system.
Prices on orange juice would go up. Grocery stores would get orange juice from places that did not have a severe frost.
Paano nakatutulong ang ganap na kompetisyon sa pamilihan?
Ang ganap na kompetisyon sa pamilihan ay nakatutulong sa pamamagitan ng paglikha ng mas mahusay na presyo para sa mga mamimili, dahil ang maraming nagbebenta ay nagiging sanhi ng pagbaba ng presyo. Bukod dito, pinapabuti nito ang kalidad ng mga produkto at serbisyo, dahil ang mga kompanya ay kinakailangang magpakatatag upang makapanatili sa merkado. Ang ganitong uri ng kompetisyon ay nag-uudyok din sa inobasyon at pag-unlad, habang ang mga konsumer ay may higit na pagpipilian. Sa kabuuan, ang ganap na kompetisyon ay nag-aambag sa mas episyenteng pamilihan.
The supply and demand model predicts that a price floor will result?
The supply and demand model that a price floor will result in is based on consumer want and need. A lower demand will result in lower market values for products.
What is supply and demand and how does it affect property prices?
Many buyers plus few houses available for sale means higher house prices - (a sellers market).
Few buyers plus a surplus of houses for sale means lower house prices - (a buyers market).
A system where supply and demand affect the production and pricing of goods is called what?
Morse telegraph system.
How does supply and demand affect the market structure?
businesses can charge more if supply is limited and demand is high
