Describe how the price system eliminates surplus

Describe how the price system eliminates surplus.
A surplus is quantity demanded is less than quantity supplied. It will lead to downward pressure on price. As price falls, quantity demanded rises & quantity supplied drop. It will continue till quantity demanded is equivalent to quantity supplied.

   Related Questions in Biology

  • Q : What is Direct Mail Marketing Direct

    Direct Mail Marketing: It is a format for email-based campaigns wherein standalone advertisements are sent to a targeted list of recipients. The messages that may be HTML, text, or rich media, appear Web-based ads quite than usual email messages. A nu

  • Q : Cellular immune response in chronic

    For what reason is the cellular immune response stimulated in the condition of chronic viral infection?

  • Q : Examples of secretory cells What are

    What are various examples of secretory cells?

  • Q : Define Cataract Cataract : A Cataract

    Cataract: A Cataract is a clouding of Crystalline Lens within the eye. This is not a film over the eye. The Crystalline Lens is made up of soft flexible protein which is surrounded by an elastic membrane termed as Capsule. Whenever the soft, normally

  • Q : Chordate class Which chordate class is

    Which chordate class is considered as an example of transition of vertebrates from aquatic to the dry land environment?

  • Q : Important of planning Important of

    Important of planning 1 planning makes objectives clear and specific: before plans are drawn it is essential that objectives or goals to be achieved must be clearly

  • Q : Explanation of direct immuno

    Give a brief explanation of direct immuno fluorescence.

  • Q : Status model of supply chain management

    a. Identify and differentiate the four stage (stages 1-4) status model of supply chain management, explaining their application for network planning and improvement. b. Explain in detail how the supply chai

  • Q : Influence of pharmaceutical sales when

    Whenever the economy does a downturn, what is the job market similar to for pharmaceutical sales representatives?

  • Q : Strategy Canvas Analysis Strategy

    Strategy Canvas Analysis Canvas strategy is the framework for action once the diagnosis strategy to build the two functions (Kim and Mauborgne, 2005). First, the latest situation in the marke

©TutorsGlobe All rights reserved 2022-2023.