So, the demand of housing increases if the price is . Increases in demand generally lead to higher prices, and decreases in demand tend to lead to lower prices. D. A decrease in consumers' incomes. See Page 1.
curve unchanged. Which of the following happens to the demand for goods and services if consumer income declines? C. An increase in consumers' incomes. If it is less than one, the product is . b. 6 Factors That Influence Exchange Rates. Log in for more information. (c) The quantity demanded of that commodity at a certain price. Add your answer and earn points. High Price Goods and Range of Price Changes Goods and Others. D. the number of substitutes available to consumers For instance, if price of the milk falls, the demand for sugar would also be affected. _____13. The demand will contract strongly after . Following are the important factors that affect the demand of a commodity: Own price of the given commodity : Own price is the most important determinant of demand.
Influence market research B. Four main factors affect tourism demand include price, season, security, and trends. 1. Add your answer and earn points. a, The individual's money income, b, The prices of other commodities, c, The price of the commodity under consideration, d, The tastes of the individuals. Suppose, In future if the price of houses is going to rise then people rush in the market to buy more before the prices goes up. A 10,5% increase in price reduces the quantity demanded by 5,1%.
Examples are: salt, coffee, medical care and beer. customs duties C. Judiciary Act of 1801 D. Judicial Review Question 2: What country/countries attempted to blockade U.S. ships trying to trade with one another during 1805? In drawing an individual's demand curve for a commodity, all but which one of the following are kept constant? An increase in the price of a substitute product (eg avocados). It helps in reducing th It reduces the unit cost of production. Time plays a vital role in the elasticity of demand for a commodity. 2. Which of the following would affect demand for a consumer magazine: O The cost of advertising in the magazine O The usefulness of the magazine The number of inserts in the magazine The magazine's delivered circulation 1 See answer andrew473678 is waiting for your help. _____12. Disposable income with the people in a particular economy. They support the living at the most basic level by making up all that needs to be necessarily used and consumed in day-to-day life.
A. i . A) umbrellas B) snow tires C) swim suits D) sleds Previous Next . The lower the price elasticity of demand, the steeper the demand curve will be.
One of the following does NOT affect demand for a good: expectations about future income. In most cases, though, it is not effective. Demand for commodity exists for a period of time, say, a day, week, month or year or several years. c. It predicts how many units will sold. - The prices of related products or services. Answer (1 of 25): There are three things to always keep in mind when considering economic issues: 1. 2. Answer + 20 Watch For unlimited access to Homework Help, a Homework+ subscription is required. 4. Marketing strategy is a method that allows a company to focus its limited resources on the most profitable prospects to boost sales and gain a sustained competitive advantage.
Position in the Budget 3. (7) Government Policy: Economic policy adopted by the government also influences the demand for commodities. Which of the following factors influences demand?
an increase in total spending in the economy Economists agree that four factors influence economic development and growth: human resources, physical capital, natural resources, and technology. Expert answered| emdjay23 |Points 251300|. a, The individual's money income, b, The prices of other commodities, c, The price of the commodity under consideration, d, The tastes of the individuals. Inferior goods will increaseC. However, the decrease in market price as compared to cost price would reduce the supply of product in the market.
Which of the following factors influence(s) the capital structure of a business entity? Three major supply-side factors affect prices: Amount of natural gas production O A. i C. d . O O B. r D. NX F. C. Question: Which of the following factors will affect the slope of the aggregate demand curve? Which of the following factors is typically good for economic growth in this regard? The association between price and quantity demanded is also called a Demand curve. Describe the main factors affecting tourism demand. a. 2 Business Economics Tutorial. Demand for hot dogs increases. Examples are: salt, coffee, medical care and beer.
Tastes and Preferences of the Consumers: . For example, the change in the price level for a luxury car can cause a substantial change in the . When the price of a commodity falls, its demand rises and when its price rises, its demand falls. The supply and demand may also confine to a particular season. Demand, Your cashier thinks you should raise prices to increase your total revenue and your customer thinks you should lower prices to increase your total revenue. C. Warn about dangers.
The level of wages also affects consumer spending. 1.3 Impact of income. The price of the product does not lead to a shift in the demand curve. Which one of the following will not affect the demand for bananas, and therefore leave the demand.
D. the number of substitutes available to consumers Price. Which of the following factors does not affect the demand for money? Similarly, during deflation (depression), the demand for various goods reduces in spite of lower prices because people do not have enough money to buy the things. Factor # 1. C. philanthropic activities performed in without expectations of monetary remuneration. iii) Frictional unemployment occurs when people are between jobs.
Increase consumer demand. ADVERTISEMENTS: For example, the demand for apparel changes with change in fashion and tastes and preferences of consumers. (c) The quantity demanded of that commodity at a certain price. The following points highlight the twelve main factors affecting the elasticity of demand for a commodity. This answer has been confirmed as correct and helpful. Confirmed by . A 10,5% increase in price reduces the quantity demanded by 5,1%.
Marketing strategy is a method that allows a company to focus its limited resources on the most profitable prospects to boost sales.The correct options are A, C, and D.. What are marketing techniques? Government spending factors does not affect the demand for money. Income is not the only factor that causes a shift in demand. One of the following does NOT affect demand for a good: expectations about future income. If wages are . Nature of Commodity 4. The more available substitutes there are, the more elastic the demand will be. Some of the most common influence tactics are as follows: i. 0 Answers/Comments. Availability of Substitutes 2. Which of the following would be in demand all year round in most of the United States? Explanation: Essential goods are those without which the subsistence is the most difficult.
Price of the good is the factor which influences people's buying plans and varies moving along a demand curve. The factors are: 1. Expert Answer 100% (1 rating) 3) correct answer would be here income because autonomous expenditure are the ones which are mandatory and despite the level of income they ain't gonna change because they are mandatory for the survival be it on individual level Or on government leve View the full answer
The forces of supply and demand interact to affect an .
7. A. In which of the following ways does demand influence profit? In drawing an individual's demand curve for a commodity, all but which one of the following are kept constant? Time factor in Elasticity influence Elasticity of Demand. I. C)desire for gold ******. E. IV. Number of its Uses 5. a. Normal goods will increase B. Complimentary goods will increaseD. Scarcity. 3. II. The demand and income are directly related to each other. - Buyers' expectations of their future income and wealth. Which of the following encouraged competition among European powers for influence in Mughal India? Income : Demand also depends on the income of the people. Besides the size of Population, composition of population also influences the demand. The demand will be greater when the population is high. Aside from factors such as interest rates and inflation, the currency exchange rate is one of the most important determinants of a country's relative level .
Demand for the product of the company. One of the following does NOT affect demand for a good: expectations about future income. Answered step-by-step 1. A price decrease increases quantity supplied. B. the time period buyers have to respond to a price change. Governments in highly developed countries are focused on these areas. (b) Need for the commodity and willingness to pay for it. III. For example Mr. X has 100 kgs of a . An increase in costs of production causes the supply curve to increase.
7/29/2020 Section A - Multiple Choice Questions Question16 You own a small store.
Which of the following is an example of relatively inelastic demand?
Which of the following does NOT influence the price elasticity of demand? 1.5 Perishability of the product. A demand for a good or a service is elastic if it reacts strongly to a change of its price. One factor that can affect demand elasticity of a good or service is its price level.
When people would .
The demand for a product is influenced by various factors, such as price, consumer's income, and growth of population. C. whether the good is a necessity or a luxury. The individual demand curve illustrates the price people are willing to pay for a . . b. Subjective value. The level of inflation in an economy. Search for an answer or ask Weegy. B)demand for beaver fur. D. Adequate of the assets to meet any sudden spurt in demand. A. federalism B . Which of the following factors influence relative elasticity? A decrease in resource costs causes an increase in the supply curve. The demand for a good depends on several factors, such as price of the good, perceived quality, advertising, income, confidence of consumers and changes in taste and fashion. The sales and operations planB . If that number is more than one, the product shows price elasticity. Log in for more information. It helps in reducing the variable cost of production.
A)control of the spice trade. 1. Question. Advertisers use the following techniques to increase consumer demand for their good and services:Turning luxuries into necessities.Jumping on the bandwagonSlogans or jinglesSavings or free . The phase through which economy is passing.i.e economic recovery, boom, recession etc. 2.
The aggregate. The greater the incomes of the people, the greater will be their demand for goods. Log in for more information. 1.6 Addiction. Choose the right answer: 1. Answer (1 of 9): The key factors which influences the demand for money are as follows- 1. Answer & Explanation Answer E ii, iii, iv Explanation Option I is incorrect because: Substitute good can be used in place of another which means when the price of one good increases, the demand for the substitute will increase hence shifting the demand curve to the right and not the left.
The seven determinants of demand are the following: - A change in buyers' real incomes or wealth. Asked 293 days ago|8/29/2021 5:52:01 AM. The lower the price elasticity of demand, the steeper the demand curve will be. f. Get an answer. D. Africa's climate attracted farmers and other European settlers. The more expensive the destination, the less likely people . Asked 1 day ago|7/4/2022 8:34:57 PM. Change in consumer expectations.
Which of the following factors does not affect the supply curve? The quantity demanded (qD) is a function of five factorsprice, buyer income, the price of related goods, consumer tastes, and any consumer expectations of future supply and price.As these factors change, so too does the quantity demanded. Supply and demand is the relationship between buyers and sellers that is used as a measure for price determination in financial markets. - Buyers' tastes and preferences. Added 1/23/2017 2:07:48 PM. 1. Greater the proportion of income spent on the commodity, more is the elasticity of demand for it and vice-versa. When the price of the good changes and the quantity desired varies according to the original demand relationship, movement along the demand curve occurs. Pressure: Pressuring a person to change their behavior or carry out an order is a push tactic that uses intimidation, threats, and authority. Exchange : Exchange is a push tactic, but it's a moderately . a. interest rates c. level of income b. price levels d. government spending . The extent to which these factors influence demand depends on the nature of a product. Consumer's Income 6. (d) The quantity of the commodity demanded at a certain price during any particular period of time. The demand for a product is influenced by various factors, such as price, consumer's income, and growth of population.
In turn, higher prices tend to moderate or reduce demand and encourage production, and lower prices tend to have the opposite effects. C. Technology adopted. A. 1 See answer Advertisement . Demand for hot dogs decreases. The value of a thing can be compared against other things only by the individual, and only in t. Answer (1 of 34): That would be the availability of good substitutes for that demand.
We can look at either an individual demand curve or the total demand in the economy. Both stock and market price of a product affect its supply to a greater extent. The extent to which these factors influence demand depends on the nature of a product. Expert answered| emdjay23 |Points 251300|. A price increase causes an increase in supply. Substitute goods will increase. Question. - Buyers' expectations of the product's future price. The following are the factors which determine demand for goods: 1. B. Africa's river systems made it easy for Europeans to reach the African interior. D)interest in territorial expansion. Asked 1 day ago|7/4/2022 8:34:57 PM. A. Africa was rich in natural resources that Europeans needed. Question. Whether or not the supply for the essential goods is sufficient, the demand for it remains unaffected. In economics, demand is a fundamental concept that refers to a consumer's desire to purchase goods and services and willingness to pay a price for them. Most Common Influence Tactics. Question 1: Which of the following terms gives power to the federal courts to declare legislative and executive acts unconstitutional? Get the detailed answer: In which of the following ways does demand influence profit? Which of the following does NOT affect demand? Which of the following does NOT influence the price elasticity of demand? B. Demand Equation or Function. The correct answer is: The amount by which the demand curve shifts when the price of another good changes. Share in Total Expenditure: Proportion of consumer's income that is spent on a particular commodity also influences the elasticity of demand for it. In drawing the demand schedule or the demand curve for a good we take income of the people as given and constant. Dividing the change in supply by the change in price results in a numerical value. 1.4 Time under consideration. Economics questions and answers. Which of the following would affect demand for a consumer magazine: O The cost of advertising in the magazine O The usefulness of the magazine The number of inserts in the magazine The magazine's delivered circulation 1 See answer andrew473678 is waiting for your help. ADVERTISEMENTS: For example, the demand for apparel changes with change in fashion and tastes and preferences of consumers. At a price of 4.95, a pulp fiction novel is expected to sell 9,000 copies.
v) If products X and Y are complimentary an increase in X's price will lead to an increase in demand for Y. Therefore, the monthly unemployment rate report is one economic leading indicator that gives clues to demand for consumer goods. A. Which of the following is an example of relatively inelastic demand? A. the amount by which the demand curve shifts when the price of another good changes B. the time period buyers have to respond to a price change C. whether the good is a necessity or a luxury.
There is never enough of anything for everyone to get all they want. Bargaining power with the suppliers.
2. A. 1.2 Availability of substitute goods. The other things that change demand include tastes and preferences, the composition or . The correct answer is B) The price of the good. Demand for hot dog buns decreases. It will be less when the population is less.
Demand for a commodity refers to: (a) Desire backed by ability to pay for the commodity. Which of the following factors influence relative elasticity?
A decrease in the price of a substitute product (eg apples). If the price of a product is too high, there will be a shortage.
O A. i C. d . O O B. r D. NX F. C. ii. Income of the People: The demand for goods also depends upon the incomes of the people. A demand curve is a graphic representation of the relationship between product price and the quantity of the product demanded. Log in for more information. A. the amount by which the demand curve shifts when the price of another good changes. Resource availabilityD . (b) Need for the commodity and willingness to pay for it. An increase in demand causes an increase in supply. Updated 293 days ago|8/29/2021 7:11:18 AM. D. Provide information. Which of the following is true? There are many factors which has adverse effect on demand of housing some are illustrated below: Price: The fluctuation in prices influences the demand of housing. Choose 1 answer: answer choices. 1.1 Relative need for the product. It reduces the unit cost of production. (d) The quantity of the commodity demanded at a certain price during any particular period of time.
Choose the right answer: 1. d. It directly influences the fixed cost production. ii) If a producer manufactures a unit elastic product, he/she cannot influence total revenue by changing the price.
1 Factors Affecting Price Elasticity of Demand. 0 Answers/Comments.
iv) The elasticity of products changes over time. A. income effect B. substitution effect C. diminishing marginal utility D. ceteris paribus Demand forecastingC . Economic conditions View Answer Answer: D Latest CPIM-BSP Dumps Valid Version with 155 Q&As Latest And Valid Q&A | Instant Download | Once Fail,Continue reading If the market price is more than the cost price, the seller would increase the supply of a product in the market. Demand for hot dogs buns increases. This causes an increase in demand of various goods even at higher prices. A. A. prices of inputs B. production technology C. the number of producers D. prices of complement goods Business Economics Microeconomics Answer & Explanation Solved by verified expert D Step-by-step explanation D. prices of complement goods It is a factor of Demand. Which of the following factors is most likely to affect the demand for a company's services or products?A .
2. Demand for a commodity refers to: (a) Desire backed by ability to pay for the commodity. B. intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
The goods which are complementary with each other, the change in the price of any of them would affect the demand of the other.
The purpose of advertising is to do which of the following? Answer: Option C B. 1 Answer/Comment. An increase in interest rates. Which of the following factors will affect the slope of the aggregate demand curve? C. Africa's size gave European nations a place to house their growing populations. A. intangible activities or benefits provided to consumers in exchange for other services or nonmonetary payments.
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