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(1) Other things being equal, when the price of an automobile falls, people buy ore of that automobile. Is this an increase in Demand? Why or why not?
(2) Because of Covid-19, the number of suppliers of an educational learning tool has decreased. How does this affect the supply of that good?
(3) If your company is one of the suppliers who is still in business and one of your component suppliers is raising prices significantly in April of 2021, how will this affect your supply before April? (4) -What can your company do to be more competitive?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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