2007-01-24 17:48:53 · 4 answers · asked by Onyeloni A 1 in Social Science ➔ Economics
The price equilibrium is when the price for a given good is sufficient to clear the market of the quantity available for sale. A change in the price equilibrium can be caused by a number of factors, such as technological change, the discovery of more easily obtainable resources, a change in the availability of the inputs needed to produce the good, demand for a product increases, etc.
A change in the price equilibrium occurs when the amount of goods available at a given price changes. When this occurs, a new price equilibrium will be reached at which the market is cleared with no excess units available at a given price and no potential buyers who are willing to pay the given price but have no goods to purchase.
2007-01-24 19:00:17 · answer #1 · answered by William N 5 · 0⤊ 0⤋
A. earning advance. extra women and adult males human beings will bypass out and purchase new concerns. some could have the added money to purchase a hybrid automobile. The call for could additionally be up and variety might additionally be down if revenues will advance tremendously speedy in many women and adult males human beings. B. interest quotes lessen. people choose to bypass purchase much less severe priced issues now in days. Get financial financial reductions. If the hybrid has a extra fee mind-blowing interest cost it basically might get added people to purchase it as a consequence coming up a call for. regardless of the undeniable fact that too many at ones will create a shortage. C. The cost of batteries used can bypass the two techniques. some human beings have self belief its a extra fee-useful automobile if the battery is low fee. some women and adult males human beings could desire to purchase the extra fee useful. i might say this is able to balance the decision for/grant as a results of fact you does not get too lots of persons to purchase it quickly nor now not purchase it on the instant. D. The cost of gas decreases. this could an increasing form of now and returned create a surplus as a results of fact extra adult males and girls could have money to spend on gas-hogging machines. this means the hybrid call for will bypass down.
2016-12-16 16:50:01 · answer #2 · answered by morrell 4 · 0⤊ 0⤋
If demand for a product goes up, the price will go up.
2007-01-24 18:09:35 · answer #3 · answered by hartless63 4 · 0⤊ 0⤋
Explain what you meant by the question?
2007-01-24 18:42:05 · answer #4 · answered by zoomzoom 2 · 0⤊ 0⤋