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Despite fluctuations in price the demand for milk stays at about the same level. Which term is used to describe this situation?
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What else can I help you with?
Describe the farmers situation in the 1920s?
Demand for crops fell as farmers' debts rose.
What describe a situation in which consumers have elastic demand?
Ppl give up eating pasta and breadbc they want to lose weight - apex :)
What is the difference between inferior and giffen goods?
=giffen goods are mostly maent for show off while inferoir gods are maent for convinience=demand for giffen goods goes up when their prices go up while demand for inferior goods remains constant despite price fluctuations
What factors contribute to the fluctuations in the high demand low supply graph?
Fluctuations in the high demand low supply graph are influenced by factors such as changes in consumer preferences, shifts in production costs, disruptions in supply chains, government regulations, and external events like natural disasters or economic crises. These factors can cause the supply and demand balance to shift, leading to fluctuations in the graph.
Inelastic demand curve?
Inelastic demand means a situation in which the demand for a product does not increase or decrease correspondingly with a fall or rise in its price. From the supplier's viewpoint, this is a highly desirable situation because price and total revenue are directly related; an increase in price increases total revenue despite a fall in the quantity demanded. An example of a product with inelastic demand is gasoline. Refer to link below.
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.
What type of buffers work best when managing fluctuations in demand for a product or service?
Supply chain buffers, such as inventory buffers and capacity buffers, work best when managing fluctuations in demand for a product or service. These buffers help to absorb variability and ensure that the supply chain can meet changing demand levels efficiently.
What is the demand expansion?
Demand Expansion refers to the situation where, the demand for a particular product is increasing across geographical boundaries.
What are the challenges international managers face with pricing?
1.exchange rate fluctuations 2.demand supply forecasting
Most economists use the aggregate demand and aggregate supply model primarily to analyze?
Short-run fluctuations in the economy
What are the causes of the bullwhip effect?
The bullwhip effect in supply chain management can be caused by fluctuations in demand, lead time variability, order batching, and lack of communication and coordination between different partners in the supply chain. These factors can amplify small changes in demand and create larger fluctuations upstream in the supply chain.
If the elasticity of demand for a good at a certain price is greater than One we describe demand as?
Variable
