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]
4 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]4 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
It is acceptable to change your personality if you want the relationship to last. Please select the best answer from the choices
jeka94
<span>The question is asking us to say whether it is acceptable to change your personality if you want the relationship to last. I think that the intended answer is "false" because a relationship should be something that is compatible with how you are and you could end up being unhappy if you change your personality. However, it is acceptable to change some negative traits such as excessive jealousy. </span>
7 0
3 years ago
Read 2 more answers
Life has changed a lot in Bahrain Asia over the years. True or False?
Sauron [17]

True.

As of 2016, Bahrain has a high rate of human development and is considered by the World Bank as a high-income economy. since in 1932 oil was discovered in Bahrain, the first such find in the Persian Gulf and source of great wealth, although since the late twentieth century the country has tried to diversify its economy by investing in the banking and tourism sector to avoid relying on too much of its crude.

8 0
3 years ago
How drought affects plant
zhenek [66]
Drought triggers a wide variety of plant responses. Plant growth is altered, with changes in the architecture of individuals, which are translated into lower height, reduced leaf size, a smaller number of leaves, less fruit production and changes in the reproductive phase.
5 0
3 years ago
The rich banking family from Florence
kakasveta [241]

Answer:Medici family

The Medici family, also known as the House of Medici, first attained wealth and political power in Florence in the 13th century through its success in commerce and banking.

Explanation:

8 0
4 years ago
Read 2 more answers
Ritesh believes that goals act as motivators to focus employee efforts on achieving certain performance outcomes. Ritesh's belie
Veronika [31]

Answer:

Expectancy theory

Explanation:

Expectancy theory works on the basis that the premise on which employees may base an individual levels of effort will be on what is necessary to perform well and earn rewards within the workplace. In other words if retish wants her workers to put forth a certain level of effort and therefore be motivated to reach a particular goal, she would have to set up a reward structure with clearly defining goals and routine evaluations.

8 0
3 years ago
Read 2 more answers
Other questions:
  • Psychologist John Garcia conditioned rats to have a taste aversion to sweet-tasting water by injecting them with a drug that mad
    12·1 answer
  • Brave new world according to mond what is dangerous about science what limits are imposed on scientific inquiry
    12·1 answer
  • Scott Murphy was hired as a software engineer by Oberon Technology's Chief Computer Scientist Alicia Monroe. He was 46 at the ti
    5·1 answer
  • What's the difference between liberals and conservatives?
    12·1 answer
  • Which is a distinguishing characteristic of synthetic cubism found in still life?
    13·1 answer
  • The statue of liberty is a symbol of what idea<br> A. wealth<br> B. freedom<br> C. jobs <br> D. land
    6·2 answers
  • What really happened to Vietnam in the years following the Geneva Accord?
    8·2 answers
  • A solar eclipse happens when the shadow of the __ falls on the Earth.<br><br> 1. Sun <br> 2. Moon
    7·1 answer
  • Please help i’ll mark brainliest!!
    15·1 answer
  • The process of evaporation, condensation, and precipitation is called _____.
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!