What will happen if product prices rise?

What will happen if product prices rise?

What is the likely outcome if the product’s price goes up?

If the price rises, the demand for the product goes down. However, the amount of the product remains the same. The quantity demanded will increase if the price falls. This is called the Law of Demand. An inverse relationship can be represented on a graph by a line that runs downward from left to right.

What is likely? A. The price of a product is likely increase B. The supply is likely decrease C. The demand will cause scarcity D. The demand is likely increase Please choose the best answer from all the options.

Answer to: The supply will rise. Explanation: The more expensive it is, the fewer people will buy it. Also, the greater the chance of it being restocked.

Which one of the following is an indirect competitor to a company that makes chocolate chips cookies?

A company that makes brownies can be an indirect competitor to a company that makes chocolate chips cookies.

How is capital made a factor in production?

Capital is the third factor in production. Capital is the machinery, tools, and buildings that are used to produce goods or services. Common examples of capital are hammers and forklifts as well as conveyer belts, computers and delivery vans. Capital varies depending on who is working and what type of work they are doing.

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What can make a weak economy a strong one?

The government has the power to affect economic growth by implementing demand-side or supply-side policies. Expansionary fiscal Policy – lowering taxes to encourage spending and increase disposable income. Lower taxes will result in higher borrowing …., but it will increase the deficit.

What is a good indicator of whether the economy is doing better or worse?

Gross Domestic Products in real terms are a good indicator of economic performance. Inflation measures the changes in prices of goods and services over time ….

Is the unemployment rate an economic indicator?

While no single number can capture all the details of the labor market’s health, the unemployment rate is one of the most important economic indicators. The unemployment rate is a measure of the percentage of labor force workers who are not employed but are actively seeking work.

What is the effect of unemployment on society?

Unemployment can have both social and individual consequences, which require policy interventions. Unemployment can lead to psychological distress for the individual and can result in a decrease in life satisfaction. It can also lead you to mood disorders or substance abuse

What does unemployment mean for the economy?

The unemployment rate refers to the percentage of people who are unemployed in the labour force. Unemployment negatively affects families’ disposable income, reduces purchasing power, lowers morale and reduces an economy’s output.

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