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nikklg [1K]
4 years ago
11

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

Business
1 answer:
lions [1.4K]4 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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A firm wants to develop a level material use schedule based on the following data. What should be the setup cost? Desired lot si
JulsSmile [24]

Answer:

$0.45

Explanation:

Given that

Desired lot size = 60

Annual demand = 40000

Holding cost = 20 per unit

Daily production rate = 320

Workdays per year = 250

Recall that

S = (Q^2 H[1 - d/p])/ 2d

Where S = setup cost

D = annual demand

Q = order quality

P = daily production

Seeing that daily demand is not given. We find d

d = 40000/250 = 160

Therefore

S = [60^2 20( 1 - 60/320)] / 2 × 40000

S = 3600 20 ( -1.12)/ 80000

S = $0.45

4 0
3 years ago
Read 2 more answers
A real estate agent earned ​$4800commission on a property sale of ​$240 comma 000.What is her rate of​ commission?
dsp73

Answer:

Her rate of commission is 2 percent

Explanation:

Commission=  $4800

Sale of property = $240,000

Rate of​ commission =  (Commission/ Sale Of Property )* 100

Rate of​ commission= $ 4800/ $ 240,000 * 100

Rate of​ commission= 0.02 * 100

Rate of​ commission= 2%

The above solution can be checked by putting in the values of percent and commission

(Check)

2% of $ 240,000

= (2/100) * $ 240,000

= 2* $2400

= $ 4800

Thus 2 percent of $ 240,00 is equal to $ 4800

3 0
4 years ago
the distinction between flexible and fixed individual differences__________. correct answer is that managers have little or no i
disa [49]
Relatively Fixed Individual Differences is the Intelligence, ability, personality, core self evaluations (self esteem, self efficiency...) managers have little impact on these.
7 0
3 years ago
Switzerland exports watches to Russia. Watches are relatively capital intensive in their production process. With trade, the pri
In-s [12.5K]

Answer:

A) we would expect the price of capital to rise by more than 10 percent in Switzerland.

Explanation:

In foreign trade, the magnification principle is part of the Stolper-Samuelson theorem and it states that the price of a factor that is used intensively in the production of a good or service will change in a larger proportion than the price of the good or service produced. In other words, the change in the price of capital will increase by a larger proportion than the goods produced using it. So if the price of watches increases by 10%, then the price of capital will increase by more than 10%

7 0
3 years ago
Which loan type requires you to make loan payments while you’re attending school?
boyakko [2]
I think it's <span>none of the above.</span>
7 0
3 years ago
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