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26 October, 10:04

What determines the price and the quantity produced of most goods

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  1. 26 October, 10:11
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    What determines the price and the quantity produced of most goods?

    Demand determines the price of goods and the quantity of goods produced

    Explanation:

    The law of demand governs this, the higher the price the lower the quantity demanded. This shows that demand is a great factor whenever price is to be made and quantity of goods.
  2. 26 October, 10:14
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    Ultimately it's the demand that governs the price and the quantity produced.

    We can't speak of supply without the demand as the low of demand eventually governs the price and the quantity produced.

    However, several factors affect the supply such as the taxes, technology and environmental effects.
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