Answer: ▶False◀
Explanation:▶ realistically when prices fall, demand goes up. This is because everyone would buy something that cost less, than something that is expensive. Now when prices go up, demand usually goes down. This is because the consumer wouldn't want to buy something from ( ex:) retailer 1, who's products are too expensive. Than retailer 2, who's prices are very reasonable. People wouldn't want to demand something that has a price going up and up.
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Answer:
The most applicable answer from my point is in such a scenario, producers overproduce the product because of a supply-side market failure.
Explanation:
So what is market failure? Simple, Market failure occurs when a market is unable to effectively and efficiently manage its resources because of the breakdown of price mechanisms functions which rare caused by negative and sometimes positive externalities.
In here, Supply side market failure occurs when the producers don't have to pay the full cost of their output. That is the actual cost of production is greater that the recorded cost.
In Market failure, the supply and demand of the market do not meet the equilibrium price and quantity and eventually leads to the loss of social welfare and ineffective economic decision making.
Imperfect information in the market and the increase of power in the sellers side could lead to supply side market failure.
Answer:
Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions.
Explanation:
