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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
How does supply and demand affect consumers?
Supply and demand are vital to consumers. If a product is in high demand the supply has to go up which can increase prices because of the demand. Prices end up going up because more has to be shipped and it would have to get to the location of demand in a certain time.
What is the concept of economy?
The concept of Economy is supply equals demand. Without demand there would be no supply which helps make up the economy.
What happen when demand and supply are not equal?
When demand is higher than supply prices are going up, at some level customers don't want to buy and sales are going down. When supply is higher than demand prices are going down, at some level demand is again higher than supply and prices are going up.
What happens if there is more supply than demand?
When there is more supply than demand, there is commonly a drop in price of the product in an effort to increase the demand and achieve the equilibrium between supply and demand once again. Supply and demand are like a see-saw. As supply goes down, demand goes up; as demand goes up, supply goes down.
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
How does supply and demand affect consumers?
Supply and demand are vital to consumers. If a product is in high demand the supply has to go up which can increase prices because of the demand. Prices end up going up because more has to be shipped and it would have to get to the location of demand in a certain time.
What is the concept of economy?
The concept of Economy is supply equals demand. Without demand there would be no supply which helps make up the economy.
What happen when demand and supply are not equal?
When demand is higher than supply prices are going up, at some level customers don't want to buy and sales are going down. When supply is higher than demand prices are going down, at some level demand is again higher than supply and prices are going up.
What would happen in countries that grow in size but do not industrialize?
Economy, Ecosystem would collapse. Deaths may occur from starvation and agriculture no being able to keep up with the supply and demand.
What happens if theres more demand than supply?
When there is more supply than demand, there is commonly a drop in price of the product in an effort to increase the demand and achieve the equilibrium between supply and demand once again. Supply and demand are like a see-saw. As supply goes down, demand goes up; as demand goes up, supply goes down.
What happens if there is more supply than demand?
When there is more supply than demand, there is commonly a drop in price of the product in an effort to increase the demand and achieve the equilibrium between supply and demand once again. Supply and demand are like a see-saw. As supply goes down, demand goes up; as demand goes up, supply goes down.
What is supply relationships?
I take it you mean what is the relationship of supply and demand. As the supply goes up the price will come down. As the demand goes up the price will go up. If the supply and demand are in balance the price will stay the same.
Can The supply keep up with the demand?
i dont think it can because the demand would be more than the supply try and find ways to keep to pace and not fall behind.
How does products supply impact its price?
When supply increases and demand decreases, the price goes down. When supply goes up and demand stays the same, price also goes down. When demand goes up and supply either stays the same or decreases, then the price goes up
What happens when a demand for a good increases when supply decreases?
Down here would be the possible scenarios and its effects If demand rises and supply rises (by the same factor): the prices do not change while the quantity is increased If demand falls and supply falls (by the same factor): the prices do not change while the quantity is decreased If demand falls and the supply rises (by the same factor) the prices would go down while quantity would not change If demand rises and the supply falls (by the same factor) The prices would go up while the quantity would not change.
What is the rule of price in economics?
Price is tied to supply in demand. If there is a short supply and big demand, price goes up. If there is a short supply and low demand, price will remain steady. If supply is high and demand small, price will go down.
