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3 years ago

Explain how a price system moves a market toward the quilibrium price

Business

1 answer:

lions [1.4K]3 years ago

8 0

Answer:

By setting the price of goods and services at a level where the suppliers and consumers feel comfortable, the quantity of goods and services supplied will be the same as the quantity of goods demanded.

Explanation:

A price system is a means of arranging economic activities by setting the standard prices of goods and services in that particular economy. In this way the agents of demand and supply can have an estimate of the price of various goods and services. In this way, a supplier who doesn't know the price of a goods or service that he/she plans to sell to a different country or region can use the price system to adjust their selling price effectively. On the same note, the consumers can also acquire goods and services that they have never demanded before by using the price system to determine the standard prices for those goods or services.

Prices are a reflection of the consensus between suppliers and consumers about the value of goods and services. The equilibrium price can be defined as the price where the quantity of goods supplied equals the quantity demanded. By setting the price of goods and services at a level where the suppliers and consumers feel comfortable, the quantity of goods and services supplied will be the same as the quantity of goods demanded.

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Customers have a defined ________ when it comes to waiting in line at a retail checkout counter. The amount of time consumers ar

balu736 [363]

Answer:

The correct answer to the given above question is Zone of tolerance.

Explanation:

Zone of tolerance in simpler terms can be defined as the difference between a consumers desired level of service and the level of service a consumer considers adequate. This zone consists a range of various service performance that a consumer considers to be satisfactory. We can see this zone of tolerance when a consumer will stand in a line at a retail store , a consumer would be willing wait longer in the line if he or she thinks that product or service is valuable or a necessity to him and the waiting time would also depend on the type of store it is.

6 0

3 years ago

Read 2 more answers

Alex doesn't care about where he lives, but he does care about what he eats. Alex spends all his money on restaurant meals at ei

Levart [38]

Answer:

Part 1). Yes, Alex be better off in Paris if the relative prices between American and French meals (p_a/p_f) are lower in Paris than Austin because his capability to buying goods growths so his cash is fundamentally value more locally.

Part 2) No, Alex be better off in Paris if the relative prices between American and French meals (p_a/p_f) are higher in Paris than Austin because even though he can buying the same components, they will cost extra, and he will consume less goods than living in Austin

5 0

3 years ago

When a firm believes that the social and economic validation for its existence is obtained from achieving their organizational o

Nesterboy [21]

Answer:

The correct word that fills the gap is: sales.

Explanation:

Initially, the Marketing approach was productive, towards production: Marketing aims to achieve greater efficiency in the financial and productive areas of the company.

Subsequently, the emphasis was on the product, but the growing competition and the difficulty of selling production, changed the focus towards sales, the goal was to sell above all and reduce inventories.

Subsequently, the focus is increasingly shifted to the consumer: consumers do not acquire production plants, products or services, buy benefits and utilities, the "expectations of meeting their different needs." The current approach is market-oriented, where the consumer and their needs remain the key, and therefore the competition must also be analyzed, which tries to satisfy the same customer as us. Likewise, the environment that conditions this process and any other critical factor must also be analyzed.

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3 years ago

Pine Street Inc. makes unfinished bookcases that it sells for $58.09. Production costs are $37.97 variable and $10.12 fixed. Bec

ololo11 [35]

Answer:

Pine Street should sell finished bookcases.

Explanation:

Differential analysis

Sell unfinished Process further Net income

Increase (decrease)

Sale price per unit 58.09 73.08 14.99

Variable 37.97 44.61 -6.64

Fixed 10.12 10.12 0

Total 48.09 54.73 8.35

Net income per unit 10 18.35 8.35

So, the book cases should be sold after processed further.

7 0

2 years ago

Joseph Marcantuone and Robert Gieson owned a shopping center in which one of the spaces was always leased as a dry cleaner. Even

Lina20 [59]

Answer:

Right now marcantuone and robert gieson ought not be held at risk for what the drycleaner inhabitants did.Because there was no release of perilous substance during their ownership.The chlorinated dissolvable pollution issue right now the aftereffect of dry cleaning activity led preceding the condemnee's acquisition of the property.There was no proof of a release of unsafe substance during the time of condemnee's ownership.The sullying was not found until after the condemner had procured the title to the property in the judgement activity.

As indicated by the spill demonstration the obligation is vested on a condemner who bought debased property and didn't attempt any assessment or examination at the hour of procurement.

4 0

3 years ago