Explain how does the availability of substitutes affect

Reference no: EM1331677

Surplus or a shortage of a good or service

1)What role does economics play in our personal decisions? What role does economics play in the organizational decisions?

2)How does the availability of substitutes affect purchasing decisions?

3)How does a surplus or a shortage of a good or service affect the market price? How does global economic competition impact the duration of surplus/shortage condition and price elasticity in the domestic market?

Reference no: EM1331677

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Explain how does the availability of substitutes affect : Explain how does the availability of substitutes affect purchasing decisions.

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