1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Art [367]
3 years ago
12

3. How do supply & demand together determine price? 4. What happens to price when the market has a surplus? 5. What happened

to price when the market has a shortage?
Social Studies
1 answer:
hram777 [196]3 years ago
5 0

Price is determined by the interaction of supply and demand.

3 .If both the the seller and the buyer agree on a price, an exchange of good and services can occur. In that case, the agreed price is called the 'equilibrium price'<em>. </em>Supply and demand are in balance. <em>When either the</em> <em>demand or the supply changes, the equilibrium price will change too.</em>

4. When there is a surplus ( the supply of goods increases ) and the demand stays unchanged, <em>the price of goods would go lower.</em> There would  be too many goods available on the market, and in order to sell them the producer would have to adjust ( lower ) the price to clear the market of excess supply.

5. When there is a shortage ( the supply of goods decreases ) and the demand remain unchanged, the price of goods would <em>go higher</em>. The quantity of goods demanded would be higher than the number of products available on the market. This may result in a shortage of products and the producers would demand a higher price for their offered goods.



You might be interested in
What is the difference between the due process guarantees in the Fifth Amendment and the Fourteenth Amendment?
sergeinik [125]

Answer:

Fifth Amendment applies to the federal government

Fourteenth Amendment applies to the states

Explanation:

solution

difference between Fifth Amendment and Fourteenth Amendment as  due process guarantees is

As Fifth Amendment and Fourteenth Amendment both Amendment give you identical protection

but Fifth Amendment applies to the federal government

and Fifth Amendment protect the right of someone who is suspected of a crime

and

the Fourteenth Amendment applies to the states

and Fourteenth Amendment protect  citizen from unreasonable control by government

8 0
2 years ago
Yash is an artist. He does not like when people talk about the separate parts of his pictures because he believes that looking a
Lynna [10]

Answer:

Gestalt approach

Explanation:

Yash’s opinion as an artist is similar to the gestalt approach because a gestalt approach is an approach coined by the psychologist and it is a school of thought that believes and states that a complete object must be perceived and seen as a whole and not in its separate forms. It provides that an object must be looked at as a complete picture and shall not be divided and seen in a separate form or part.

8 0
3 years ago
While on a dig, a paleontologist finds two fossils. The more deeply buried one is an animal that appeared to have a few spiky pr
HACTEHA [7]
The correct procedure is the one exposed in the C. option, that is Look for other fossils of transitional forms in the rock layers between the two fossils. This is true because t<span>he hypothesis definitely predicts such forms which states that there had to have been something intermediate between a few spiky projections and fully formed feathers. Hope this can help</span>
5 0
3 years ago
Read 2 more answers
When scott first hired maria he gave her a lot of autonomy in how she did her job. Maria was uncomfortable with the vagueness of
Dimas [21]

<u>The answer is "Tolerance for Ambiguity".</u>


Tolerance for ambiguity can be characterized as how much an individual is OK with vulnerability, unusualness, clashing bearings, and various requests. Fundamentally, tolerance for ambiguity is show in a man's capacity to work successfully in a dubious domain. The degree of vagueness may differ significantly and is by and large connected to the hidden reason for vulnerability.

5 0
3 years ago
Read 2 more answers
What is original jurisdiction? *
dsp73

Answer:

In common law legal systems, original jurisdiction of a court is the power to hear a case for the first time, as opposed to appellate jurisdiction, when a higher court has the power to review a lower court's decision.

3 0
2 years ago
Read 2 more answers
Other questions:
  • Which statement about he bill process is accurate ?
    14·1 answer
  • What are 5 interesting facts about the west region
    10·1 answer
  • Ellen is an RBT who works with clients with autism in their homes. Currently, she sees 3 children every Monday, Wednesday, and F
    12·1 answer
  • What has many keys but can't open a single door?
    13·1 answer
  • How do i get a guy to notice me
    10·2 answers
  • Kidane was the middle child in the family. According to Adler, Kidane would most likely be:_______
    15·1 answer
  • The prison operated by the U.S. military for the detention and interrogation of terrorist suspects and "enemy combatants" is loc
    8·1 answer
  • 2. What major body of water borders the United States on the west coast?
    8·2 answers
  • A que se deben las causas y consecuencias de los conflictos politicos en colombia
    7·1 answer
  • What is the average life expectancy for men and women in the developed world?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!