How does supply and demand determine prices?
The more of something you have the less you will get for it but the less of something you have the more you will get for it.
Healthcare is in most laws a basic right for any person, while applying supply and demand would (by virtue of low supply) deny it price-wise to poorer people. Certain treatments and medicines are very expensive to research, and as such they would be too expensive for most people to buy - so governments subsidize this research to make sure it can be made available for affordable fees.
What is abnormal and Inferior goods in Economics?
Abnormal and inferior goods in economics are goods that are not of the best quality or the normal variety.
How does supply and demand affect recruitment?
The availability of manpower both within and outside the organization is an important determinant in the recruitment process. If the company has a demand for more professionals and there is limited supply in themarket for the professionals demanded by the company, then the company will have to depend upon internal sources by providing them special training and development programs.
What best explains why the law of supply and demand has an effect on labor market?
In the law of supply and demand the effect on the Labor Market is that labor is a commodity.
Labor is a commodity
What was the Impact on supply and demand of labor Great Depression?
In area where water supply is poor during periods of peak demand what type of system would usually be specified for the domestic dwelling?
How many cupholders are producers willing to supply at a price of 2.50?
It depends on the suppliers base line supply protocol (basically how many as a minimum they are prepared to sell at what price line) and the volume you would see as your purchase
How does legislation affect supply and demand?
Some things may be banned, or supplied free by Government. More usually supply and demand are manipulated by taxation policies.
What is supply and demand economy?
Supply is how much of the product an economy has. The demand is how much the people need the product. These two make the price. Let's say the supply is high and demand is low, the price would be low. If it was the other way around, price would be higher.
Who said the demand and supply theory of books?
there were many economists like pigou,marshall and dada bhai naoroji who said about demand and supply theory.
What factors affect supply and demand curve for wind energy?
Ease of establishment
Price of electricity
Cost of establishement
Grid stability
Backup power sources
Government subsidies
Public acceptance
How did the kings of Ghana use the law of supply and demand to their advantage?
They limited the amount of gold available for trade, increasing its value.
What is the economic system based on the law of supply and demand during the cold war?
free market economy
How does supply and demand affect pricing?
If supply is greater then the demand then the price is lower but if the demand is higher then the supply then the price is higher due to rarity. :)
How would you propose to balance the supply and demand of water from the Colorado River?
A US lead effort at desalination projects from the Sea of Cortez and the Pacific Ocean.
vertical lines page 133
How is supply and demand related to free enterprise?
they both haveto do with determination and having
right
What is the economy in which the interaction of supply and demand determines price and output?
Market Economy
Deregulation
What would happen to a supply and demand graph if the cost of production increases and why?
supply must shift up/left because at every quantity, the price would be higher