Economists call this the law of demand. As the price of a product increases, the quantity demanded decreases (but the demand itself remains the same). If the price falls, the quantity demanded will increase.
Resource Prices – Rising resource prices lead to a decrease in supply or a leftward shift in the supply curve. Falling resource prices lead to an increase in supply or a rightward shift in the supply curve.
An increase in demand shifts the demand curve to the right and a decrease in supply shifts the supply curve to the left.
A decrease in demand leads to a decrease in the equilibrium price. Less quantity to deliver. An increase in supply leads to a product decrease in the equilibrium price, all other things being equal. Demand increases.
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Answer:
A bank run occurs when a large number of customers of a bank or other financial institution withdraw their deposits simultaneously over concerns of the bank's solvency. As more people withdraw their funds, the probability of default increases, prompting more people to withdraw their deposits.
Answer:
Demand and supply
Explanation:
Demand and supply are the two factors which effect the equilibrium of price. If demand increases and the supplies remains constant the price will increase. On the other hand when demand decrease and the supplies remains constant the price will fall. So these two factors effect the Equilibrium price of a good.
Answer:
A) instrumental; terminal
Explanation:
Rokeach Value Survey (RVS) is an instrument that is used to classify values. 36 values are ranked to scale. The values are made up of 18 terminal and 18 instrumental values.
Participant in the survey rank 18 of the terminal values and then 18 of the instrumental values in order of importance to the individual.
RVS has been applied in the fields of psychology, personality, behaviour, social culture and cross-cultural studies.
Terminal values refer to desireable state of existence and instrumental values are preferable modes of behaviour.
