Q: Why do we use straight lines on demand and supply?
A: A demand schedule is a table that displays the quantity of goods requested in the market at various…
Q: The quantity of goods and services that a person, business, or company is willing to offer at a…
A: In general a firm incurs various costs in the daily business and these costs can be classified as…
Q: If the economy goes into a recession and income fall, what happen in the market for inferior good?
A: Inferior goods are the goods that are inversely related to the income ie these might be low-quality…
Q: What does the supply curve illustrate? a. The quantity suppliers are willing to sell at each and…
A: In a competitive market, the market forces of demand and supply of a good determine the equilibrium…
Q: market forces of Supply and Demand.” Agree or disagree with
A: I agree with the statement but in some cases government should directly intervene in the market to…
Q: is an organization created a formal agreement between a group of producers of a good or service, to…
A: Forms of market are large in number and can be distinguished according to the features they possess.…
Q: which statement is correct If a good is not being produced by sellers with the lowest cost, then…
A: Profit Maximization level: The level of production that maximizes the profit of the firm or the…
Q: The introduction of new technology can affect the amount of supply a business will produce. Will it…
A: The supply schedule illustrates what the firms can produce at every price point and how much they…
Q: A demand curve shows the relationship between a) price and technology. b) the demand and supply…
A: demand curve represent the relation between price and quantity we can choose the correct option as…
Q: Excessive usage of polyethene bags is damaging the environment of Bangladesh. Discuss the different…
A: GIVEN Excessive usage of polyethene baggage an damaging the surroundings of Bangladesh
Q: Surpluses and shortages will not occur as long as price can move freely and act as a “rationing…
A: Excess of quantity supplied over quantity demanded results in surplus of the commodity and when…
Q: laws of supply and demand
A: ‘Law of demand’ states that if commodity price rises then its quantity demand decreases or…
Q: Draw and carefully label the market for honey. How would a disease reducing the mobility of bees…
A: The market for honey can be shown using demand curve and the supply curve. As usual the demand curve…
Q: Songwriters and composers press music companies to lower the price for music downloads because
A: The quantity demanded of a good refers to the amount of the good that the consumers are willing and…
Q: The amount of a good or a service that a producer supplies at a specific price is called:
A: Let us first understand certain concepts related to the above question.Producer: Producers are the…
Q: An adverse weather condition can change the supply of a product.” It can be represented as a: a.…
A: Supply curve shows different combinations of quantity supplied and prices
Q: What represents the amount of some good or service a producer is willing to supply at each price? A…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: A schedule which shows the various amounts of a product producers are willing and able to produce at…
A: Difference between demand and quantity demanded Demand - it refers to the quantity of a good that a…
Q: The fundamental economic concept that describes the total amount of a specific good or service that…
A: The term microeconomics refers to that situation under which the economic problems are judged on the…
Q: This is the willingness and the ability of a consumer to buy goods and services to satisfy their…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: What are the example of the following: 1. Increase in Demand 2. Increase in quantity demand…
A: 1)Increase in demand: It is a situation when demand for a commodity changes due to change in factors…
Q: 1. Equilibrium take an example 2. surplus take an example 3. shortage take an example 4.…
A: Since you have asked multiple questions, we'll solve the first three questions for you. If you want…
Q: Good which are supposed to be used together to satisfy a want or need are called___________
A: # Few goods can be used in place of each other and few foods are supposed to be used together to…
Q: For society, a good is not scarce if a.firms are producing the goods at full capacity b. all…
A: The economics as a study is considered to be a very vast area. In economics, the major idea is that…
Q: In 2014, a major ice storm hit the southeastern U.S. The storm brought down power lines and trees,…
A: Price gouging refers to a activity in which the sellers charge more than reasonably fair prices for…
Q: Instruction: In the left column, list examples of goods or services where demand is greater than…
A: DEMAND > SUPPLY (i)…
Q: Discuss it in your own understanding and then give example each of the following: Consumer and…
A: "Since you have asked a question with multiple sub-parts, we will solve the first three sub-parts…
Q: in 2015 the average price of housing was $326,000 and went up to almost $500,000 in the last year.…
A: Prices of houses goes up because there is a jump in housing demand, despite a limited amount of a…
Q: Demand is a powerful force in a free market. In 3 to 4 sentences, explain some of the factors that…
A: Demand is a concept that shows two characteristics together that are the willingness to pay and the…
Q: Solve for the supply and demand
A: Price Quantity Demand Quantity Supply 127.75 1000 108…
Q: In 2014, a major ice storm hit the southeastern U.S. The storm brought down power lines and trees,…
A: Price ceiling refers to the legal maximum on the price at which goods or products can be sold in the…
Q: Other than price, identify one market signal. Show how that market signal influences…
A: The information which is being either passed unintentionally or passively between market…
Q: (a) State on thing that would cause market supply to increase (cause the supply curve to shift to…
A: The law of supply states that there is a direct relationship between price and quantity supplied.…
Q: Why are newspapers, but not soft drinks, sold in vending machines that allow customers to take more…
A: Necessary good is a type of normal good that consumers buy regardless of the change of their income…
Q: Does a 24-hour store follow the marginal benefit principles?
A: Firms can maximize the net profit of any operation by selecting the quantity at which marginal…
Q: How does the market structure affect the price of a good or service?
A: A market is a gathering of buyers and sellers to reach an agreement on the price and quantity of…
Q: How supplier affect the supply of goods to the public market?
A: At the marketplace, suppliers are the market participants who provided goods and services to…
Q: Classifying a good as rival means A. that the good is produced in a competitive market. B.…
A: The answer to the question is as follows :
Q: Which of the following would not change the supply of a good? A A change in the price of the good. A…
A: The supply shows the positive relationship between the price level and the quantity supplied. The…
Q: A buyer's willingness to pay for a good is the that good. It measures how much the the good. buyer…
A: "Consumer surplus occurs when the price the consumer pay for the commodity or service is less than…
Q: Use a graph and a written description to explain what happens when an oil shortage leads to reduced…
A: The markets are the place where the sellers, or the suppliers of goods, services, and other products…
Q: In 2014, a major ice storm hit the southeastern U.S. The storm brought down power lines and trees,…
A: Price Ceiling is defined as a kind of Price control that is imposed by the government. The…
Q: Supply: Definitions Law of supply Supply schedule and supply curve
A: The term supply refers to how much of a precise product, item, commodity, or service suppliers are…
Q: Who gets the benefit when there is surplus of goods in the market household consumers government…
A: Both demand and supply are necessary to run a market. The market can not run properly if any one of…
Describe how need and want affect goods and services.
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- How do demand and supply curves impact your life?You are shopping for new clothes and you like the style of a shirt. The store clerk tells you they have that shirt in red, blue, orange, and purple, and can offer it in the sizes small, medium, and extra large. How many different shirt options can this store offer?What are goods and services
- My homework help What happens in the market for beach towels now that the season is over. Graph and explainWhat is difference between goods and services?The vast array of products that consumers buy can be classified on the basis of shopping habits and are broken down into four main areas. List these four main classifications of consumer goods and explain what elements are included within.