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Earn +20 ptsQ: How does supply and demand affect consumers?
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How can consumers influence or affect the price of goods or services?
supply and demand. If more people want it, it is in greater demand thus the price is more; if less people want it, the opposite is true.
What effects supply and demand?
Fluctuations in the price of goods. The affect of demand on price is directly proportional and supply's affect on price is indirectly proportional.
How does supply and demand affect the market structure?
businesses can charge more if supply is limited and demand is high
What is a demand and supply curve?
A demand and supply curve is used in economic to show that in a competitive market, the price of a product will vary depending on the need of the consumers.
What factor had the greatest influence on elasticity and in elasticity of supply?
Demand from consumers.
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