Sign In
Ask Question
Guest
Business
21 February, 05:05
Supply affects prices
+4
Answers (
1
)
Asia Summers
21 February, 05:34
0
Over supply or undersupply affects the prices
Explanation:
The level of supply of a product or service in the market affects its price. When a product is over-supplied, the prices tend to fall. The principle will work best for necessary goods such as food and gas, but will also apply in all commodities.
For example, during the rainy season, vegetables and other agricultural products are in high supply. As a result of their prices tend to decline. If the supply of oil is low globally, price tends to increase.
Comment
Complaint
Link
Know the Answer?
Answer
Not Sure About the Answer?
Find an answer to your question 👍
“Supply affects prices ...”
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
Each person who attended a company meeting was either a stockholder in the company, an employee of the company, or both.
Answers (2)
Allegheny Company ended 2015 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $23,000 and $900, respectively. During 2016, Allegheny wrote off $1,500 of Uncollectible Accounts.
Answers (1)
What account is credited when overhead cost is applied to work in process? would you expect the amount applied for a period to equal the actual overhead costs of the period? why or why not?
Answers (1)
At the beginning of the year, Victoria's "tax basis" capital account balance in the VIP Partnership was $90,000. During the tax year, Victoria contributed property with a basis of $30,000 and a fair market value of $70,000.
Answers (1)
Eyan is giving a seminar on environmental conservation efforts in a local factory. Which qualities is Eyan using when writing and presenting his seminar?
Answers (1)
New Questions in Business
Reviewers are largely supportive of the increased push to have people pre order video games A - true B - false
Answers (1)
Use the following information for exercises 15 to 18 LO P2 The following information applies to the questions displayed below] On October 1, Ebony Ernst organized Ernst Consulting;
Answers (1)
The price of peanut butter rises due to a blight on the peanut crop; peanut butter and jelly are complements. what happens to the equilibrium quantity and price of jelly?
Answers (1)
Under the Wagner Act of 1935, an employer has a legal obligation to do all of the following except: Bargain with a duly elected representative of the employees. Make concessions in response to union demands during a bargaining session.
Answers (1)
Congress would like to increase tax revenues by 10 percent. Assume that the average taxpayer in the United States earns $65,000 and pays an average tax rate of 15 percent. a.
Answers (1)
Home
»
Business
» Supply affects prices
Sign In
Sign Up
Forgot Password?