Ask Question
BusinessBusiness
29 November, 15:04

What two conditions must producers meet for there to be supply of a product?

+3
Answers (1)
  1. 29 November, 15:17
    0
    Supply is the quantity of a good or service that producers are willing and able to offer for sale at various prices. The two conditions that must be met in order there to be supply of a product are:

    1. Buyers must be willing for it

    2. Buyers must be able to pay for

    The Law of supply states that as the price of a good or service increases, the quantity supplied increases, and vice versa.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “What two conditions must producers meet for there to be supply of a product? ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The body system most responsible for homeostasis in response to stress and broadly dictates metabolism is ___.
Answers (1)
When it comes to analyzing organizations what must commanders consider in terms of mission?
Answers (1)
The lag problem associated with fiscal policy is due mostly to Group of answer choices the time it takes for changes in government spending or taxes to affect the interest rate. the fact that business firms make investment plans far in advance.
Answers (1)
Cost of transporting raw materials in the manufacture of steel is unimportant in considerations of where to locate a steel mill.
Answers (1)
Victoria is a marketing manager. A large part of her role is trying to assess what customers want and building long-term relationships with customers. What would likely complicate Victoria's job?
Answers (1)
New Questions in Business
Fowler Company is a priceminustaker and uses target pricing. Refer to the following information: Production volume 602 comma 000 units per year Market price $ 30 per unit Desired operating income 17 % of total assets Total assets $ 13 comma 900
Answers (2)
A manufacturing company has a beginning finished goods inventory of $14,600, raw material purchases of $18,000, cost of goods manufactured of $35,200, and an ending finished goods inventory of $18,700. The cost of goods sold for this company is: A.
Answers (1)
What is the process of making your goods and services available to buyers called?
Answers (1)
Asking "would you buy my product" in a survey is an example of what?
Answers (1)
Of all the steps needed for setting up a child care facility, the step that must come first is A. determining licensing requirements. B. developing a business plan. C. assessing child care needs. D. stating program goals.
Answers (1)
Home » Business » What two conditions must producers meet for there to be supply of a product?
Sign Up Forgot Password?