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Product demand is an economic term. The product demand describes the desire for a particular product that the public has.

When a product is in demand what happens to the demand curve?
the market demand for the product. undefined. more inelastic than the market demand for the product. more elastic than the market demand for the product

What is the between derived demand and joint demand?
Derived demand occurs when there is a change of customers' demand on particular product and produces have to buy new production equipment, which means that the change in consumer demand for a product affects demand for all firms involved in the production of that product. Joint demand has nothing to do with changing the production equipments. In this case, demand of the product depends on demand of its compliment. For example, demand on inc depends...

What does it mean that the demand for a product is high?
if a product is in high demand it means lots of people want/like it, if something is in demand someone wants it, high demand means that product is popular and people want it, it's in high demand.

What are the laws of demand and supply?
In economics, when a commodity is in high demand or in scarce supply, its price will rise; when a commodity is in low demand or plentifully supplied, its price will be lower. The laws of supply and demand dictate that if a product is in short supply, but the demand is high, the price of the product will also rise. If a product is in overabundance, but the demand is low, the price of the...

What is the importance of price elasticity of demand?
Price elasticity of demand is important because it determines how much the price of a product can change before the demand fluctuates. If a product is inelastic, that means that a change in price of the product will likely not affect the consumer's demand of the product drastically. But if the product were elastic, a small price change may drastically affect consumer demand.

Who is it that usually determines the demand for a product or service?
Those who buy the product or service usually determine the demand for a product or service.

What is meant by derived demand and how does this demand characteristic impact freight demand?
Derived demand is the demand to transport goods or services to location depend on demand to consume a goods or services to location. Freight of product is derived from the customer demand of product.

Explain why the law of demand can apply only in a free market?
Because the free market is the entity that in itself dictates the law of supply and demand. If the purchasing public has a high demand for a product, then more of that product is produced. Conversely, if there is only a low demand for a product, less of that product is produced.

The Law of Supply and Demand states that if the supply of a product increases then the price of that product will?
decrease. It will also decrease if the demand decreases. Conversely, if the supply of a product decreases or if the demand increases, the price will increase.

When a producer is unable to meet the demand of a certain product?
If a producer is unable to meet the demand for a certain product, then either there will be other producers of the same product who will meet the demand, or if not, then there will be a shortage. Prices will rise.

Distinguish between demand estimation and demand forecasting?
Demand estimation's purpose is to determine the approximate level of demand for the product whereas demand forecasting's purpose is to estimate the quantity of product or service that consumers will purchase.

What is an example of a product which has a perfectly elastic demand?
One example of product which has perfectly elestic demand is coal.

When an economist says that the demand for a product has increased this means that?
When an economist says that the demand for a product has increased this means that

How demand can affect supply?
When the demand for a product goes up, usually they make more of what they supply (the product)

What is the rule of supply and demand?
Supply depends on demand.The demand is how much a product is wanted.The supply is how many of a certain product is made.It depends on demand because if a product is not getting enough demand, the supply will come to a stop or become very low.

What is demand uncertainty?
Demand uncertainty reflects the uncertainty of customer demand for product

How demand-pull inflation leads to an upward trend in prices?
The higher the demand for a product or service, the more the product/service is needed. This causes the prices of labor and/or product to increase, to meet the demand.

When the price of a product is increased the quantity demanded decreases demand for this product is?
when the price of product increased the porchasing powre of consumer is foll so he will decreases his quantity demand for that product.

What is wholesome demand?
Wholesome demand is the demand for a product in which there are negative attributes of the product. Some examples would be alcohol and cigarettes, which are in demand among some consumers but also get negative feedback from others.

The demand for capital by a firm is based on the demand for the product that the capital produces This relationship is referred to as?
I can tell you it is one of the 4 items: product demand, derived demand, resource utilization, or cost minimization

What is the difference elastic and inelastic demand?
As a general concept demand increases or decreases depending whether the price of a product or service goes down or up. Elastic demand means that the demand for a product or service is very sensitive to any price changes. Inelastic demand refers to how demand for a product or service in not sensitive to any price changes.

How does law of demand affect the law of quantity?
It's a pretty basic concept learned in school. As more people demand a product, the availability of the product decreases. Therefore, causing the price of the product to increase with the demand.

If a price increase has little or no effect the demand for the product is?
When a price increase has little or no effect on the demand for a product, it is inelastic.

What is stagnant demand?
Stagnant demand 핸드폰소액결제현금화 is when there is little to no increase in the demand for a certain product or service

Suply and demand?
Supply And Demand. Demand:- it consists of two components 1. Desire. 2. Ability. the desire component is important in the sense that only having desire for a product or service does not create demand for a product. The desire should accompany the ability component to create demand for a product and service. Therefore, we can say that demand is willingness and ability to buy something. Supply:- it means the availability of a product and service...

Why is labor demand known as a derived demand?
The demand for labor is "derived" from the production and demand for the product being demanded. If the demand for the product increases two things will probably happen: 1) the price will increase and 2) the demand for production labor will increase until the equilibrium price and production numbers are met. Labor is "derived" from the market demand for the product. Source(s): M.A. Economics 1968

What is a demand curve?
Demand curve describes the relationship between the product price and the number of the product demanded through the use of graph. This is also an illustration of demand schedule.

What product demand by a college student?
demand?maybe clothes..

Does the demand for a product in general tend to be more inelastic than the demand for that product from a particular supplier?
no, product demand in general tends to be more elastic because there are more options the consumer can choose from. demand for the product in general allow for the principle of "substitution" to be used by the consumer. if one producers price is too high then the customer will be able to shop around for the best price available for that product. demand from a singular supplier is more price sensitive, and with demand being...

What is supplyand demand?
Supply is the amount of a product that companies are manufacturing. Demand is the amount of a product that customers wish to purchase. When people talk about supply and demand they normally refer to supply and demand curves, and where they intersect is the market equilibrium price and quantity of the product offered. As price increases, companies will want to supply more of a product to make more money, but customers will demand less because...

What does it mean the demand for a product is inelastic?
When the demand for a product is inelastic, the product has no close substitutes and can't be easily replaced. Therefore, when the price of the product raises, people buy roughly the same amount of the product because they need it too much. This is in comparison to an elastic demand, where people will buy less of a product when it becomes more expensive.

Change in market price?
Changes in the market price is determined by demand of a product. If consumers demand the product, then the price will increase.

Conclusion of price elasticity of demand?
The conclusion of the price of elasticity of demand is the effect of price change based on the revenue it receives. It is based off the demand of the product and the price of the product.

Why is aggregate supply related to the price level?
This is in accordance to the Demand & Supply Theory... When the demand for a product is high and its supply is low, this usually causes the price of that commodity to increase Similarly when supply for a product is high and the demand for that product is low, it causes the price of that product to decrease. Hence the supply is inversely related to the price of any product (Provided the Demand is in...

What two things make a product have value?
The principle of "supply and demand". If the supply of a product is higher than the demand, the product is worth less due to its availability. Conversely, if the demand exceeds the supply, then the products is worth more due to its rarity.

What happens when the demand for a product decreases?
When demand decreases, supply increases.

What does a demand curve show?
It shows the demand for a product at different prices.

Will they ever record a CD of dartells?
if there is a demand, there will be a product. I hope there is a demand

Why do fads often lead to shortages?
Due to the sudden increase in demand for a product, which often causes a shortage of the product to meet the demand.

What is the result of having too little of a product to meet the demand for it?
Scarcity is the result of having too little of a product to meet the demand for it.

Why is determining demand elasticity important in economics?
Determining demand elasticity helps managers know how to schedule their goods. When they know their product isn't in demand, they can purchase another product instead.

What is zero demand?
When the demand for a product is not present yet the product is bought then it is called zero demand...for example - the demand for old newspapers. It may be bought for other purposes and not for reading it or historians and others might buy to read it too.

Example of market equilibrium?
Market equilibrium is when the demand of the product and the supply of the product is equal. If either demand or supply changes, then the equilibrium adjusts.

What happens to supply when demand increases?
When the demand of a product increases, so will the supply. Manufacturers will produce more of the product in order to get more money.

Which of these terms is the result of having too little of a product to meet the demand for it?
Scarcity is the result of having too little of a product to meet the demand for it.

How durability and perishable of goods affects its demand?
if a customer requires a product with a short life cycle he/she may demand less of tht product

How does the elasticity of demand affect the price for a given product?
This term shows how responsive the quantity of demand for a product will be when you change the price. People will not always purchase your product if the price is too high.

What will happen to demand for a commodity if the price of its complementary falls?
Complement goods are those goods which uses collectively or side by side e.g petrol and cars. If the demand of one good changes then demand of other good move in the same direction. If the price of product complementary falls then the demand of complementary product increases according to the demand law which in turn increase the demand of product. Suppose the prices of petrol falls which will increase the demand of petrol which in...

What is the Definition of Sufficient Demand?
The amount of Demand that is Sufficient enough for the Business or Product

What does the market demand curve show?
It shows the demand for the product in relation to the price

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