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Prices of every thing is increasing day by day.Even ,now food prices also go on at high place. The price of petrol is increased suddenly,& a comman man shock. The prices of rice, wheat, edible oil, and salt have risen by 12 percent to 20 per cent, and the prices of some vegetables have doubled.And the central government isn't doing anything.Let us discuss what should be done to fight against hunger.
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How do future expectations about the price of a good affect the present supply?
If the price is expected to increase, many producers will hold onto their supply.
How do future expectation about the price of a good affect the present supply?
If the price is expected to increase, many producers will hold onto their supply.
Why does a Demand curve for a normal good downward sloping?
I. An increase in the price of the good induces consumers to purchase substitute products. . II. An increase in the price of the good reduces consumer' purchasing power. III. Law of Demand- Inverse relationship between price and quantity
How may changes in prices affect the demand for a good?
Price and demand of a good have inverse relationship. An increase in the prices of a good will lead to fall in the demand of a good and viceversa.
How demand for a good can affect demand for a related good?
if the price of the realted good increase the producers will find it more profitable to produce them and they will shift their production to that commodity . thus as a result the supply of the good in the question will decrease .
What is the result of an increase in a normal good?
To meet the price for more demand causing increase population and businesses
Using graphs explain the difference between a giffen and a normal good?
when x is inferior and y is normal then price of increase
How do the future expectations about the price of a good affect the present supply?
If the price is expected to increase, many producers will hold onto their supply.
How do future expectations about the price of a good affect the present supply?
If the price is expected to increase, many producers will hold onto their supply.
How do future expectation about the price of a good affect the present supply?
If the price is expected to increase, many producers will hold onto their supply.
Why does a Demand curve for a normal good downward sloping?
I. An increase in the price of the good induces consumers to purchase substitute products. . II. An increase in the price of the good reduces consumer' purchasing power. III. Law of Demand- Inverse relationship between price and quantity
How may changes in prices affect the demand for a good?
Price and demand of a good have inverse relationship. An increase in the prices of a good will lead to fall in the demand of a good and viceversa.
How demand for a good can affect demand for a related good?
if the price of the realted good increase the producers will find it more profitable to produce them and they will shift their production to that commodity . thus as a result the supply of the good in the question will decrease .
How can consumer expectations affect demand?
If consumer expected price increase for any reason in such good, he will buy it before the time he expects to apply for that increase and accordingly will increase demand and vice versa.
How do substitute goods and complementary goods affect demand for another good?
Substitutes and complements is the fact that a change in price of one of the goods has an impact on the demand for the other good. For substitutes, an increase in the price of one of the goods will increase demand for the substitute good. (It's probably not surprising that an increase in the price of Coke would increase the demand for Pepsi as some consumers switch over from Coke to Pepsi.) It's also the case that a decrease in the price of one of the goods will decrease demand for the substitute good.
What is an examples of a normal good?
In Economics, a normal good is one where an increase in income levels causes an increase in demand (and vice versa) despite the price of the good remaining the same.One such example would be movie tickets: people see more movies when they have more disposable income, and cut back when they're on a budget.
Petrol is a complementary product for car.How can increase in income will affect the demand for petrol if you know that a car is a normal good?
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