How does supply and demand affect the price of goods and services?

Answers

Answer 1

Answer:

Explanation:

Example

Let us take this slowly by considering a bicycle. You are given 1 bicycle and you wish to sell it. 4 people are interested and think your price is fair.

so the supply is 1 bicycle

and the demand is 4 people

If those people are want the bicycle equally, what do you think could happen to the price of the bicycle? Shouldn't it go up? Especially if they are all willing to make side deals.

Supply: 1 bicycle

Demand: 4 people

Price goes up.

Now go back.

Suppose you have 10 bicycles and only 8 people are bidding on them. They are not really that interested. So you have to lower the price until someone bites.

Supply: 10 bicycles

Demand: 8 people.

Price goes down. The supply exceeds the demand.

Answer 2

Answer:

See explanation!

Explanation:

To answer this question, let's first understand what would happen to prices if either supply or demand remained constant, whilst the other changed.

If supply remains constant, an increase in demand will result in higher prices. On the contrary, a decrease in demand will result in lower prices.

If demand remains constant, an increase in supply will result in lower prices, while a decrease in supply will result in higher prices.

This may make sense with a scenario:

All resources are scarce, so let's say a seller has one chair, and has one buyer. The chair would likely be sold for a pretty low price. However, if the next day, the seller still only had one chair, and this time had, say, 10 buyers, the chair would likely go much higher. This is because the seller now has more power, and the chair would be going to whoever is willing to pay the most, which likely isn't that original buyer.

On the other hand, if there were three buyer, and only one seller, the chair would have gone for a pretty average price. However, if there were the same three buyers with 10 sellers instead, each seller would have a lot less bargaining power, be forced to compete with each other, and hence sell the chairs at a much lower price.

This relationship may be better displayed with a graphical approach.

It's important to remember that in a basic supply and demand graph, the output is on the x-axis and price will be on the y-axis.

Demand will always be downward sloping, whilst supply will always be upward sloping.

The intersection of the two lines will be market equilibrium.

An increase in demand or supply can be modeled with a shift of the curves, in which you can play around and see what will happen to the market equilibrium of price.

An increase in demand will result in a rightward shift of the curve (more output at a given price) while a decrease creates a leftward shift. (less output at a given price)

An increase in supply is a rightward shift as well (more output at a given price) while a decrease is a leftward shift. (less output at a given price)

I hope that makes sense, please let me know if you have any questions!

Keywords:

Demand

Supply

Prices

Equilibrium

Law of Demand

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Related Questions

Analyzing an author's use of descriptive words and phrases can reveal________
A. vernacular
OB. tone
OC. rhetoric
D. logos

Answers

Answer:

I would say tone

Explanation:

I think it is tone.

1. State five importance of historial location​

Answers

Answer:

The Colosseum:

✎ it is the grandest amphitheater from the time of ancient Roman Empire.

✎a monument to ancient Rome's architectural and engineering prowess.

✎ a major source of tourism revenue for the Italian government.

✎ a site of the death of early Christians

✎ shows the early Roman's militaristic nature and elegant architecture.

Explanation:

WILL MARK BRAINILIEST
List the progression of acts and legislation between 1935 and 1941 and explain why the chronology is
significant in relation to America's involvement in WWII.

Answers

Answer:

First, a representative sponsors a bill. The bill is then assigned to a committee for study. If released by the committee, the bill is put on a calendar to be voted on, debated or amended. If the bill passes by simple majority (218 of 435), the bill moves to the Senate.

Explanation:

What was true regarding the structure of the government under the Articles of the
Confederation?

Answers

The only federal institution was congress, and there was no president or national court system

11A
11A
11A
11A
Explain the political, economic, and social factors involved in the U.S. role in the world in
regards to the following events:
Social
Political
Economic
End of the Cold War
Persian Gulf War
Balkans Crisis
9/11

Answers

Answer:

seal team

Explanation:

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social darwinism depends on what government factor in the economy?

Answers

Social Darwinism depends on government factor in the economy which includes tax, imperialism, and stability in the government.

What is Social Darwinism?

According to social Darwinism, only the plants and animals that are best adapted to their environment will be able to breed and pass their genes on to future generations.

It emphasizes the concept that "Survival of the fittest,". The belief of this theory states that certain people rise to prominence in society because they are simply stronger. Imperialism, racism, discrimination, and social inequality have all been explained by social Darwinism.

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Now imagine you are leading a group of students around a museum and arrive at this image. Write a brief explanation of what you would tell the students to help them understand the history of this image. Use your interpretation of the image, information from the map above, the tutorials you've completed in this unit, and the sources linked above. Here are some questions to help you get started:

Where did the journey shown most likely begin?
Where are these people going, and why?
What challenges did the people on this journey face, and how did they overcome them?
What most likely happened to these people when they reached their destination?
What historical events motivated this journey?
How did this journey shape history after it?

Answers

Assuming you are leading a group of students to visit the Mona Lisa work, you can conduct an artistic analysis of the work for a better understanding of the painting.

What are the characteristics of the artwork?

The Mona Lisa painting was painted by Leonardo da Vinci between 1503 and 1506, located in the Louvre museum in Paris, this is one of the most visited works in the world. It is an oil painting on wood from the Renaissance period, which depicts the image of a mysterious woman.

Therefore, in a student visit to a museum, such as the Louvre, several cultural, social and artistic aspects can be identified, helping in a dynamic learning and expanding the students' vision of the historical periods of human civilization.

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What was Scott's argument for freedom?

Answers

Scott became constrained by the freedoms of citizenship he had believed he was given, despite the fact that he became visible as a free man withinside the north.

What became the Dred Scott decision?

The Dred Scott selection became the U.S. Supreme Court’s ruling on March 6, 1857, that having lived in a free country and territory did now no longer entitle an enslaved person, Dred Scott, to his freedom.

In essence, the selection argued that, as someone's property, Scott became now no longer a citizen and couldn't sue in a federal court.

Therefore, Scott became constrained by the freedoms of citizenship he had believed he was given, despite the fact that he became visible as a free man withinside the north.

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Which of these Jewish sacred texts is also known to Christians who as the old testament

Answers

Answer:

Tanakh

Hebrew Bible

Explanation:

hope this helps

What was George washington role in the french qnd indian war

Answers

Answer:

For Washington the French and Indian War started in late 1753, when he was selected as the British emissary to the French frontier establishment. It ended with the fall of Fort Duquesne to the combined British and colonial forces. He was a young and ambitious man when he volunteered.

Explanation:

Use the excerpt from Lyndon Johnson's “war on poverty” speech to answer the question.

Which of the following characteristics of modern American liberalism does this excerpt from Johnson BEST reflect?

A.
support for civil rights

B.
support for Affirmative Action

C.
support for women’s rights

D.
support for government programs

Answers

Answer:

D support for government programs.

Explanation

What President Johnson's speech brought to pass was astonishing.

It got people moving at a pace that really is inspiring and they were all moving toward one goal, They started building more schools so kids could go and learn so they could get better jobs.

They built police academies so there would be more enforcement and they made way for a better stronger country where people could support themselves and support their families because now people had the education they needed to work at jobs that used only the rich could work at and that brought a stronger place that we now live in and still feel the effects of it.

In 1914, who controlled the shaded areas on the map?
A. Spain
B. Germany
C. France
D. Great Britain

Answers

Answer:

c.France

in this year 1914 France controlled most of the areas

Can someone please help me with these questions Im struggling with them!

Answers

1. He fell asleep under the oak tree, feeling free.
2. Tom tried learning a new tune.
3. Philipe hoped for a copper cup.

hope this helps!

Using evidence explain George Washington's presidency and what the first President brought to the office of Presidency. WRITE 3-5 SENTENCES

Answers

George Washington's presidency brings strong changes in the government for the welfare of the citizens of the country.

Who was  George Washington?

George Washington was the first president of the United States of America from 1789 to 1797. He bought to the office of the presidency and signed the policy to protect the publications of authors by introducing the United States copyright law.

Beyond being the first president, George Washington's presidency was remarkable. His activities helped to develop a strong central government and a plan to address the nation's fiscal problems.

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Which of the following roles does an introduction not play in an explanatory
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O D. It provides background information about the essay's topic.

Answers

Answer:

C of Christ.

Explanation:

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d. The Maya repaid their g _s through​

Answers

Answer:

goods and coca beans

Explanation:

I know this since I learned it in I think 4th grade and I remember the Mayas.


The Warsaw Pact was developed by the Soviet Union MAINLY as a response to which event?
A. the capture of American spy Francis Powers
B. the division of Germany into occupation zones
C. the Berlin airlift of 1948
D. the formation of the North Atlantic Treaty Organization (NATO)

Answers

D: the formation of the North Atlantic Treaty Organization (NATO)

Why is it important to consider the historical context surrounding an event
when making a historical interpretation?
A. A conclusion that does not consider context is a generalization
rather than an interpretation.

OB. Historical interpretations are only valid if they are written in a
similar context as the event.

C. Events happening at the same time might have influenced one
another.

OD. Every historical interpretation must consider political and social
consequences of an event.

Answers

The historical interpretation surrounding an event should be considered when interpreting it because the events happening at the same time may have influenced one another.

What is meant by a 'historical interpretation'?

Historical interpretation refers to describing, examining, valuating, and producing an explanation for past events. When understanding an event, the historical interpretation rounding it should be evaluated because events happening at the same time may have influenced one another.

Therefore, choice C is correct.

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The Code of Conduct ____________ for military members when isolated or held against their will by entities hostile to the U.S.

Answers

“Moral guide” for military members when isolated or held against their will

What region did algebra originate from
during the Middle Ages?
A. Africa
B. Asia
C. Middle East
A
D. North America

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Answer:

C. middle East Gooddddd

In 25 words or fewer, explain why you think there are so many
independent nation-states in the world.

Answers

Answer:

Because when you are independent you get to abide by your own rules and you aren't governed by someone else.

There are so many independent nation-states because the demands of various peoples vary depending on their unique histories, cultures, and geographic locations.

What is a nation-state?

In a nation state, the state and the country are one political entity. Since a nation does not always need to have a dominating ethnic group, it is a more specific definition than "country".

A form of government characterized by geography, politics, and culture is known as a nation state. The state is the organ of government, while the country is the collective cultural identity of the people.

In comparison to earlier models of state structure, nation states offer three major benefits. They are the only setting in which democracy can emerge, they do not tend to expand their area, and their absence of a centralized government has allowed their cultures and economy to grow.

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In the late 1800s, many African Americans who came to New Mexico from
the eastern United States:
A. established a ranching culture in eastern New Mexico.
B. were forced to assimilate and give up their cultural traditions.
C. were given constitutional rights protected by "iron clad" clauses.
D. sought opportunities and an escape from discrimination.

Answers

Answer:

hey there the answer is D

Thshdhxhcbdnducuchdvedbxxchxhdbdbdbxu

What was one major effect of urbanization on British citizens' lives during the Industrial Revolution?
O A. Governments cut taxes to encourage more migration to cities.
O B. Mortality and fertility rates in cities declined rapidly.
O C. Poor families generally gained access to better housing.
O D. Diseases spread rapidly through overcrowded cities.​

Answers

Mortality and fertility rates in cities declined rapidly major effect of urbanization on British citizens' lives during the Industrial Revolution. During industrial revolution there is hardship for workers.

What were the effects of urbanization during the Industrial Revolution?

Rapid urbanization, or the migration of citizens to cities, was an outcome of the Industrial Revolution. Agricultural changes, booming population development.

An ever-increasing demand for workers prompted a massive migration from farmland to cities. Small villages around coal or iron mines evolved into cities almost instantly.

Thus, option B is correct.

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Match each thinker with the correct description.
Galileo
Bacon
Kepler
Newton

Discovered the three laws of planetary
motion.
Discovered the law of gravity and
developed the use of calculus.
Was persecuted for his support of the
heliocentric theory.
Pioneered the scientific method.

Answers

Kepler- Discovered the three laws of planetary motion

Newton- Discovered the law of gravity and developed the use of calculus

Galileo- Persecuted for his support of the heliocentric theory

Bacon- Pioneered the scientific method

what was the advanage of the location of byzantine empire capital ?

Answers

Answer:

The Byzantine capital was Constantinople, which was a center of trade and cultural diffusion

Explanation:

Question 8 of 10
Which statement best describes an advantage of indirect democracy over
direct democracy?
A. It can make decision making more efficient.
B. It can better reflect the democratic principle of majority rule.
OC. It can help citizens feel more connected to government.
D. It can be more responsive to citizens' interests.

Answers

The statement which best describes the advantage of indirect democracy over direct democracy is it can be more responsive to citizens' interests. Thus the correct answer is D.

What is democracy?

Democracy is a process of selecting a governance body by choosing your own representatives with the help of public voting who work for the welfare and development of the country.

In an indirect democracy, as the representatives are elected by the people, for the people so they will better respond to the interest of citizens to provide the best facilities in the country.

Therefore, option D more responsiveness to citizens' interests is the correct answer.

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Biotechnology has advanced new careers in medicine, agriculture, genetics, and food science. Which area includes energy derived from renewable plant and animal materials or organic matter?


A.
bioinformatics

B.
regeneration

C.
biofuels

D.
bioremediation

pls answer i need now

Answers

Answer:

C. Biofuels

Explanation:

Energy- fuels

Renewable plants, animal materials, or organic matter: Bio(life)

The direct definition of biofuels is "a fuel derived directly from living matter", and since that matches the description and none of the other choices make sense, the answer is C.

If you need further explanation, let me know! :)

The SALT agreement limited the arms race between the United States and

Answers

The SALT agreement limited the arms race between the United States and the Soviet Union.

What is SALT agreement?

This is an agreement that was out in place in order to restrain the arms race.

In this case, the The SALT agreement limited the arms race between the United States and the Soviet Union. This was around the 1970s.

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According to Booker T. Washington, a people recently “from slavery to freedom”, had to make the best of their situation and “live by the productions of [their] hands” and “learn to dignify and glorify common labor” . . . in other words, “cast down your bucket where you are”.

True

False

Answers

It is A. True that Booker T. Washington urged the people who recovered “from slavery to freedom” to make the best of their situation.

Who was Booker T. Washington?

Booker T. Washington became an American intellectual after recovering from years of slavery and no formal education.

For Booker, black people should accept the following facts about their lives:

Racial discriminationNeed for self-helpRacial solidarity among blacks.

Indeed, Booker T. Washington as an intellectual urged African Americans to elevate their situation and recovery through hard work.

Thus, it is A. True that Booker T. Washington urged the people who recovered “from slavery to freedom” to make the best of their situation.

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Read this quotation from President Kennedy about James Meredith’s stance.

This is as it should be, for our Nation is founded on the principle that observance of the law is the eternal safeguard of liberty and defiance of the law is the surest road to tyranny.

–Address on the situation at the
University of Mississippi,
John F. Kennedy

Based on this quote, Kennedy wants Southern states to

(A)set their own rules when it comes to segregation.
(B)follow national law when it comes to segregation.
(C)use the court system if they want to fight the law.
(D)continue to fight against desegregation of schools.

THE ANSWER IS B- follow national law when it comes to segregation.
(got it right on Edge. 2022)

Answers

The inference deduced from the quote is that Kennedy wants Southern states to B. Follow national law when it comes to segregation.

What is an inference?

An inference simply means the conclusion that can be deduced based on the information given in a literary work.

In this case, the inference deduced from the quote is that Kennedy wants Southern states to follow national law when it comes to segregation.

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