The amount that a good is sold for is its

Asked by maham237 @ 14/07/2021 in History viewed by 285 People

a. elasticity.
b. price.
c. profit.
d. supply.

Answered by maham237 @ 14/07/2021

Goods are sellers for a price.

Price is the socially accepted value as fair to effect a transaction.

Economic theory explains that the price of a good in a market economy is determined by the interaction between supply and demand for it. It's an elementary law!

Price is the socially fair value in which the seller is willing to sell and the maker is willing to pay. If the price is too high, the producer will want to sell, but the consumer will not want to buy. Likewise, if the price is low, the consumer will want to buy but the producer will not have the incentive to sell.

Therefore, the fair price is considered an equilibrium price for the transaction of goods and services in an economy.

Take any three non-collinear points a b c and draw triangle a,b,c. through each vertex of the triangle draw a line parallel to the opposite side using ruler and compass

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Elephant kills 11 in nepal , woman rescued from a friendly dolphine

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Write two paragraphs to compare and contrast the narrators’ schools and explain how their schools shape their perspectives toward the hijab. cite evidence from the text to support your ideas.

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The amount that a good is sold for is its

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