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Equilibrium can only occur at one price. two prices. three prices. four prices.


Of course equilibrium can only occur at One price.

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The statement "the quantity demanded of a product varies inversely with its price" is a definition of

The correct answer that would best complete the given statement above would be the term LAW OF DEMAND. The law of demand states that the quantity demanded of a product varies inversely with its price, as long as other things do not change. Hope this answers the question. 

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Consumers demand more shoes than sellers are willing to supply, at the given price. This means that there is a(n) _____ of shoes. surplus shortage equilibrium

I believe the correct answer from the choices listed above is the second option. Consumers demand more shoes than sellers are willing to supply, at the given price. This means that there is a shortage of shoes.  A shortage occurs whenever quantity demanded is greater than quantity supplied at the market price.

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Assume the market for spiral bound notebooks is in equilibrium. All students in public schools need notebooks of some type when they attend classes. For each of the following, explain the possible effects on demand and/or supply and equilibrium price and quantity of spiral bound notebooks using a correctly labeled supply and demand graph with equilibrium price and quantity labeled. Under your hand-drawn graph, list the determinant of supply and/or demand that causes each shift as well as the change in price and quantity. a) The price of natural gas, a resource used by manufacturers throughout the United States, doubles. b) The government provides a subsidy for notebook manufacturers. c) Your income increases and spiral bound notebooks are an inferior good.

 a) If energy prices go up, manufacturing costs go up, which ultimately increases the price of the notebook. This will also most likely lead to a decrease in quantity, as the manufacturing cost per unit is higher. This is a supply determinant. 

b) In theory, the subsidy reduces the cost per unit to the manufacturer, which increases supply and often reduces price, again being a supply-side determinant. In reality, it creates an incentive for notebook manufacturers to keep doing what they are doing, disincentivizing cost-saving developments and alternatives. Why innovate when you can get free government cheese? 
Anyway, supply determinant. 

c) The price of an inferior good increasing tends to push some demand for superior goods, especially when the income to cost of good ratio remains the same for the inferior good but gets better for the superior one. Demand determinant. 

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A demand curve shows how changes in quality affect price. quantity affect price. quantity affect income. quality affect elasticity.

A demand curve shows how changes in quantity affect price. The demand curve is a graph that will have a good or service and how the quantity purchased is related to the price point the item is set at. Overall, the relationship between demand and price are directly related and depicted on the graph.

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Select all the items that describe a free market economy. limited selection of goods and services freedom for consumers and producers competition between businesses distribution by price motivated by self-interest

The items that describe a free market economy are  :
- Freedom for consumers and producers
- Distribution by price
- Motivated by self-interest

Hope this helps

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In economics, if a good is inelastic, consumers have lost an interest in purchasing it. producers have lost an interest in manufacturing it. its supply or demand is too sensitive to price changes. its supply or demand is not sensitive to price changes.

In economics, if a good is inelastic, then its supply or demand is not sensitive to price changes.

Changes or fluctuations in market prices does not affect the supply and the Demand of inelastic goods.

Further Explanation;

  • Inelastic goods, are types of goods whose demand and supply is not affected by changes in market prices. That is an increase or decrease in market price does not affect their supply or demand.
  • When the price of an inelastic good changes, its supply and demand is unaffected.
  • Examples of such goods include, water and food. Therefore, for inelastic goods, the consumer buying strength and habits remain the same.

Demand and supply in determination of market price

  • Demand refers to the quantity of goods or services that consumers are willing and able to buy at a particular price while supply is the quantity of goods or services that suppliers are willing to supply to the market at a particular price.  
  • One of the factor that determine market prices are the forces of demand and supply, this is based on the ability and willingness of buyers and sellers to undertake selling and buying.
  • Buying and selling occurs at an equilibrium price that is agreed upon by sellers and buyers.  
  • This means the sellers and buyers are willing to exchange a certain quantity of a commodity at this price. Thus, price depends on the demand and supply in the market.
  • However, for inelastic goods such as water and food, the consumer has no option than to buy them at existing prices since they are necessity goods.

Keywords; Inelastic goods, demand and supply, market price.

Learn more about:

  1. Demand and supply; brainly.com/question/6749722
  2. Effect of supply and demand on market price: brainly.com/question/3522474

Level; High school  

Subject: Business

Topic: Demand and supply

Sub-topic: Types of goods

Posted in Business

Making a down payment reduces the a. desire of a lender to loan money b. creditworthiness of a buyer c. sale price of a house d. loan principle amount

d. loan principle amount

The loan principle amount is the amount of money borrowed for the loan. Making the down payment 1) proves the creditworthiness and capability of the buyer and 2) the overall amount of money to payback.

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The government has set a price floor on bread. Manufacturers cannot sell loaves for less than $5.00, which is a dollar above the market price. What will most likely result from this price control? The demand for bread will fall, which could result in an excess supply. The demand for bread will rise, which could result in an excess supply. The demand for bread will fall, which could result in a decreased supply. The demand for bread will rise, which could result in a decreased supply.

Draw the supply/demand curve. The line is above market equilibrium....the question literally states that the price rises, and since the supply curve has a positive slope (assuming unit elasticity), the supply will increase. Meanwhile, the demand curve has a negative slope (still assuming unit elasticity), so the demand for it will decrease. This will result in a surplus, aka, an excess supply.

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Which economic indicator demonstrates to the federal reserve that prices are stable from year to year? A) Producer Price Index B) Manufacture Price Index C) Consumer Price Index

I believe the correct answer from the choices listed above is option C. The economic indicator that demonstrates to the federal reserve that prices are stable from year to year would be the Consumer Price Index. It measures changes in the price level of a market basket of consumer goods and services purchased by households. Hope this answers the question.

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Find the selling price cost to store $20 mark up 15%

$30 I believe I apologize if I am incorrect.

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In a market economy, prices are established by A) consumers and labor unions. B) decree of government agencies. C) the interaction of supply and demand. D) businesses which buy and sell the products.

In a market economy, prices are established by C. the interaction of supply and demand.
According to how much people buy a product, and how much of that product there is, prices are going to be established accordingly. 

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23-20 (Objectives 23-3, 23-4) The following are misstatements that might be found in the client’s year-end cash balance (assume that the balance sheet date is June 30): 1.The outstanding checks on the June 30 bank reconciliation were underfooted by $2,000. 2.A loan from the bank on June 26 was credited directly to the client’s bank account. The loan was not entered as of June 30. 3.A check was omitted from the outstanding check list on the June 30 bank reconciliation. It cleared the bank July 7. 4.A check was omitted from the outstanding check list on the bank reconciliation. It cleared the bank September 6. 5.Cash receipts collected on accounts receivable from July 1 to July 5 were included as June 29 and 30 cash receipts. 6.A bank transfer recorded in the accounting records on July 1 was included as a deposit in transit on June 30. 7.A check that was dated June 26 and disbursed in June was not recorded in the cash disbursements journal, but it was included as an outstanding check on June 30. Required a.Assuming that each of these misstatements was intentional (fraud), state the most likely motivation of the person responsible. b.What control can be instituted for each fraud to reduce the likelihood of occurrence? c.List an audit procedure that can be used to discover each fraud. 14-26 (Objectives 14-3, 14-4, 14-5) The following are commonly performed tests of controls and substantive tests of transactions audit procedures in the sales and collection cycle: 1.Account for a sequence of shipping documents and examine each one to make sure that a duplicate sales invoice is attached. 2.Account for a sequence of sales invoices and examine each one to make sure that a duplicate copy of the shipping document is attached. 3.Compare the quantity and description of items on shipping documents with the related duplicate sales invoices. 4.Trace recorded sales in the sales journal to the related accounts receivable master file and compare the customer name, date, and amount for each one. 5.Examine sales returns for approval by an authorized official. 6.Review the prelisting of cash receipts to determine whether cash is prelisted daily. 7.Reconcile the recorded cash receipts on the prelisting with the cash receipts journal and the bank statement for a 1-month period. Required a.Identify whether each audit procedure is a test of control or a substantive test of transactions. b.State which of the six transaction-related audit objectives each of the audit procedures fulfills. c.Identify the type of evidence used for each audit procedure, such as inspection and observation.

a.Assuming that each of these misstatements was intentional (fraud), state the most likely motivation of the person responsible.
He most likely used the money he withdrew and later replaced it with his own money.
b.What control can be instituted for each fraud to reduce the likelihood of occurrence?
Bank records can be used to cross check the checks that were released.
c.List an audit procedure that can be used to discover each fraud.
Bank records have to be referred to when doing audit procedures.

a.Identify whether each audit procedure is a test of control or a substantive test of transactions.
Steps 2,5, and 6
b.State which of the six transaction-related audit objectives each of the audit procedures fulfills.
Steps 3,4, and 5
c.Identify the type of evidence used for each audit procedure, such as inspection and observation.
Observation were used in steps 2,5,6 and inspection were used in 3,4,5.

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When supplies are endless, prices tend to _____. A.decrease B.stay the same C.fluctuate D.increase It's B. right ?

When supplies are endless, prices tend to decrease! This is because there is an infinite amount of a good and everyone can get it. There will likely be left over supplies and the demand is not high so prices will go down. 

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1.The hope of reward that encourages a person to behave in a certain way is a(n) _______. 2.A bridge is an example of something that is usually provided as a _________. 3.To show how demand for a good will change at specific price points, economists use a ____.

Here are the answers to the given questions above.
1. The hope of reward that encourages a person to behave in a certain way is a(n) INCENTIVE.
2. 
A bridge is an example of something that is usually provided as a PUBLIC GOOD.
3. 
To show how demand for a good will change at specific price points, economists use a MARKET DEMAND SCHEDULE.
Hope this answer helps.

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Why would businesses supply more product at higher prices? A. Businesses need to sell more or they will waste money on shelf space. B. Consumers buy more with higher prices. C. Businesses will increase production to make more profit. D. Consumers are willing to pay more as supply increases.

Businesses would supply more product at higher process so that C. businesses will increase production and make more profit. If a business could make more products and sell them, they are able to make more profit off of what they are selling however, if thsoe products aren't moving, they would be wasting production time and losing money. For a business to create more, they need to be profitable in what they are increasing and how many labor hours they are using.

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When stock prices decline steadily, investors refer to the market as a ________ market.?

Most would refer to it as a "Bear" market, as opposed to a "Bull" market when stocks are steadily increasing. 

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