0
Despite fluctuations in price the demand for milk stays at about the same level. Which term is used to describe this situation?
Wiki User
∙ 7y ago
🙄🙄
Jazzman Ayomide
Add your answer:
Earn +20 pts
Describe the farmers situation in the 1920s?
Demand for crops fell as farmers' debts rose.
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 describe a situation in which consumers have elastic demand?
Ppl give up eating pasta and breadbc they want to lose weight - apex :)
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.
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 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 is the demand expansion?
Demand Expansion refers to the situation where, the demand for a particular product is increasing across geographical boundaries.
What are different types of demand distinctions?
1.producer's goods and consumer's goods 2.durable goods and non durable good 3.derived demand and autonomous demand 4.industry demand and company demand 5.short run demand and long run demand 6.short term demand fluctuations and long term trends 7.total market and market segments
In which situation is a forest most likely to be sustainable?
When supply is greater than demand
If the elasticity of demand for a good at a certain price is greater than One we describe demand as?
Variable
Consumers who are willing and able to purchase a product of service create an economic situation referred to as what?
demandconsumption
