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EzraIf the demand is up and the supply is down, the price is high
if the demand is high and the supply is high, the price is moderate
if the demand is low and the supply is high, the price is low
if the demand is low and the supply is low, the price is moderate
Because people are infinitely greedy, but the things they want are generally in finite supply. If lots of people want something that is in finite supply (eg oil), the person who has it to sell (eg Libya) will be able to charge more for it. And vice versa if something is plentiful and no-one wants it.
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When according to the law of supply and demand when supply increases what else happens?
According to the law of supply and demand when supply increases, prices will decrease.
What does the law of demand suggest that most demand curves will be?
The law of supply predicts the supply curve will be upward sloping.
The law of supply and demand states that the greater the demand for a limited supply of something?
the more it worth
What is general law of demand?
The general law of demand is that as demand increases, so will prices. This is half of the law of supply and demand. As supply increases, prices fall. So price depends upon a balance between supply and demand. This was originally pointed out by Adam Smith, in his book "The Wealth Of Nations".
Why does law of demand and law of supply conflict with each other?
It's the law of supply and demand, as described by Adam Smith in his book "The Wealth Of Nations". Just one law, no conflict.
Law of demand and supply?
Consumers is the law of supply and demand.
What According to the law of supply and demand when supply increases what else happens?
According to the law of supply and demand when supply increases, prices will decrease.
When according to the law of supply and demand when supply increases what else happens?
According to the law of supply and demand when supply increases, prices will decrease.
Law of supply and demand which one starts?
In the law of supply and demand, the first to start is the demand as customers are wanting the particular service or product that is being offered.
Law of economics?
Supply and demand.
What does the law of demand suggest that most demand curves will be?
The law of supply predicts the supply curve will be upward sloping.
What is a sentence with the words supply and demand?
Weekly sales ads are subject to the law of supply and demand.
The law of supply and demand states that the greater the demand for a limited supply of something?
the more it worth
What is general law of demand?
The general law of demand is that as demand increases, so will prices. This is half of the law of supply and demand. As supply increases, prices fall. So price depends upon a balance between supply and demand. This was originally pointed out by Adam Smith, in his book "The Wealth Of Nations".
How does the law of supply and demand increase and decrease in supply?
ty
Why does law of demand and law of supply conflict with each other?
It's the law of supply and demand, as described by Adam Smith in his book "The Wealth Of Nations". Just one law, no conflict.
Examples of Law of Supply and Demand?
ebay
