1. The Carolina Panthers win the Superbowl, MARKET: Jerseys 2. American can no longer drill oil in Alaska, MARKET: gas 3. The radiation from iPhones is found to cause cancer, MARKET: Android phones

Q: how does this impact the demand

A: In economics, the term "demand" refers to a consumer's willingness to pay a specific price for goods…

Q: elasticity important in the analysis of the market?

A: Price has an inverse relationship on quantity demanded.

Q: If the price of X decreases and this decreases the demand for Y, then

A: If the quantity demanded of a commodity decrease due to change in the price of another commodity is…

Q: An increase in demand for a good may be caused by a decrease in the price of *         the good.…

A: The demand curve shows the association between the amounts of commodity demanded by the consumer at…

Q: Review the attached graph. Which of the following movements would illustrate the effect on the…

A: Law of demand states :- Higher the price , lower will be the quantity demandedLower the price ,…

Q: Cheese and buns are comements. What will happen if cheese becomes less expensive?

A: Definition of Complementary goods : These are jointly demanded goods.

Q: effective demand

A: Demand shows the relationship between the price and quantity demanded of a commodity at a particular…

Q: A consumer buys two goods X and Y. Suppose price of Good X falls. What will be its effect on its…

A: # The consumer will work accordingly to the law of demand which means if price falls then the demand…

Q: Explain the two types of demand.

A: # Demand is closely related to the wants and the needs of the consumers in an economy. It is one of…

Q: True/False DEMAND FOR ONE GOOD ALWAYS RISES WITH THE INCREASE IN INCOME.

A: Demand and income has a relationship and this relationship depends upon which type of good we are…

Q: Along the elastic portion of a demand curve a. The change in price will be less than the change in…

A: The elasticity of demand is the degree of responsiveness from the part of the consumer towards the…

Q: Explain how consumer expectation is a determinant of demand.

A: Demand simply refers to a customer's desire to purchase goods and services without hesitation and…

Q: There is a sale going on at XYZShop. As a consumer, can you consider the sale or increase in demand…

A: Sale at any shop is a strategy to sell out the inventories that has piled up because the products or…

Q: What is consumerism?

A: For explaining consumerism ,we can define as : A consumer uses the goods and services produced in…

Q: Difference between expansion of demand an increase in demand?

A: Expansion of demand and an increase in demand are two different concepts.

Q: How does the demand curve look like? Graph it.

A: Demand curve representation of the law of demand, depicts how much quantity of commodity is demanded…

Q: what causes an increase in demand?

A: Demand is referred to be as the requirement or desire for a perticular good or service.

Q: How would marginal utility and market demand be affected by a rise in the price of a contemporary…

A: A complementary product is a product or service that adds value to another product or service. In…

Q: Give one reason for decrease in supply of a good

A: Decrease in supply depicts change in "supply" and not quantity supplied. The decrease in supply is…

Q: Draw a supply and demand graph for new cars. Show the impact that the 2008-09 recession (with the…

A: Demand is the quantity of a product or service that consumers are willing and able to buy at a given…

Q: The Government places a luxury tax on cars that sell for over $50k.  What would happen to the supply…

A: The impact of the tax on the demand-supply equilibrium level of output and price is to move the…

Q: If a company is running short of funds and they want to increase revenue. Should you increase or…

A: When the firm runs short of funds then increasing revenue is the best way to fulfill fund…

Q: The individual demand will If price falls.

A: At the market place, the behaviour of the individual is explained by the consumer demand theory…

Q: Under what circumstances would demand for a product rise when its price increases?

A: Demand is an economic principle that reflects the willingness of consumers to buy goods and services…

Q: A rise in price will increase the quantity demanded.

A: In a market, price refers to the charges paid by a buyer for a specific good when he make a purchase…

Q: If demand is inelastic, will an increase in price increase or decrease revenue?

A: Elasticity refers to the responsiveness of one variable to changes in another variable; given that…

Q: Define Elasticity in your own words and also explain how elasticity can be measured?

A: Introduction and definition of the elasticity is as under:

Q: What is the relationship betweensupply and demand?

A: In economic theory the law of demand and supply are considered to be one of the fundamental…

Q: demand schedule   a. shows how the demand changes when the supply changes. b. is a graph showing a…

A: Demand refers to the total amount of goods and services that the buyers are willing to purchase at…

Q: Explain The Nature of Demand?

A: Demand — how much a goods or administration that a customer is willing and ready to purchase at…

Q: Variables that can shift the demand curve  information about Prices of related goods

A: A demand curve is a downward sloping curve which shows an indirect relationship between price of a…