What are the main determinants of product prices?

Answer 1

The Determinants of Product Prices are:

1. Quantity Demanded
2. Quantity Supplied
3. Costs of Production [inputs]

The Determinants of Demand are:

1. Number of Consumers
2. Consumer Tastes & Preferences
3. Prices and Availability of Substitutes
4. Prices and Availability of Related Goods
5. Consumer/Buyer Income
6. Consumer Expectations

Determinants of Supply:

1. Number of Producers
2. Resource Prices
3. Technological Changes
4. Prices of Other Products of the Firm
5. Producer Expectations

The level of supply is determined by the determinants of supply and level of demand is determined by the determinants of demand. Together, these variables determine the selling price of a product.

I hope this helps.

Answer 2

Price Determinants

Answer 3

Supply and demand only superficially determine product prices. Inputs often determine prices long before demand rises to an equilibrium level. No products will be offered if the equilibrium price falls below the level of fixed costs plus variable costs. And don't leave out profit. Many businesses make no profits for the first few years they operate, because of the mountain of start-up costs for beginning businesses. Thus, they operate in the red until such time that their product catches on or investors begin to support their enterprise.

Answer 4

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Answer 5

Using simple equations:
supply=S=aP+b a>0 or a<0
demand=D=a´P+b´ a´>0 or a´<0
P=µM this means that price is a part of the total money
We can say that a price is determined by changes in supply, demand and monetary mass.
Supply drives us to technologies, Demand to utility and Monetary mass to rates of interest.

Answer 6

price in the market economy are determined by the force on of demand and supply. price in market can be determined by the point of equilibrium it can be treated using the following
1)schedule
2)graph
3)mathematically

Answer 7

Supply and demand. If theres a high demand for a product and a low supply, the prices will be jacked up. That and greed... lol

Answer 8

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Answer 9

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Answer 10

Aren't you guys forgetting the market prices (competitor prices) of the same product. Even though demand, supply and cost of production may be part of determinant i bet cha competitor is gonna give you problems if he keeps his price lower than yours.