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Explain the factors which would affect the price of a good.
As there is a very long list of determinants, the basic issue is for the student to describe and illustrate how shifts in demand and/or supply will influence the market price. It is significant that rote-memorised factors are not simply tossed in, but founded on examples. For instance, the price of other goods will affect the price of a good - A fall in the price of DVD rentals might decreasedemand for purchasing DVDs, which could ultimately lower the price of purchasing DVDs.
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In the purely competitive analysis, there were two dissimilar models, one model for the industry, in which the interaction of supply and demand recognized the market price and quan
What is the difference between Price inflation and Wage Inflation? Price inflation is the rate of enhance in the prices of goods and services whereas the wage inflation is ra
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