The value of a good or service is determined by how much people are willing to pay for it.
What factors determine the price of a commodity?
There are a number of factors that determine the price of a commodity. These factors include supply and demand, international trade, and political factors.
How can price determine the success or failure of a product?
Price is a major factor in determining the success or failure of a product. Price can affect the decision to produce the product, the price of the product, and the distribution of the product.
How does money get its value?
There is no one answer to this question since money is a tool used to purchase goods and services. Money can be earned through work, saved, or borrowed. The value of money can be determined by how much of it is currently in use and how much is available in the future.
What is standard of value?
The standard of value is the price at which goods and services can be bought and sold in the market.
How do you determine the selling price of a product?
There is no one definitive answer to this question. Some factors that could be considered include the product’s popularity, the market’s demand, and the competition.
What will happen if the prices of basic commodities will keep on increasing Brainly?
If the prices of basic commodities keep on increasing, people may have to resort to other means of sustenance.
What is the impact of prices of commodities on consumers?
The impact of prices of commodities on consumers is difficult to determine because it depends on a variety of factors, including production costs, demand, and consumer preferences. However, it is generally agreed that prices of commodities have a significant impact on the purchasing power of consumers. This can lead to lower consumption and higher prices for goods and services.
What are the effects of the price floor in the market demand and supply Brainly?
The price floor in the market demand and supply Brainly affects how much people are willing to pay for a good or service. When the price floor is high, people are less likely to purchase a good or service because they are afraid that they will not be able to afford it.
What are the 3 types of values?
There are three types of values: material, emotional, and spiritual. Material values are the things that we can see, touch, and feel. Emotional values are the things that we can see, hear, and feel. Spiritual values are the things that we can see, feel, and think about.
Who decides how the goods and services will be produced in a traditional economy?
There is no single person or organization who decides how goods and services will be produced in a traditional economy. Instead, the production process is determined by a group of people or organizations who have a vested interest in producing the goods and services that they desire. These people or organizations may be businesses, governments, or other organizations that have a vested interest in producing the goods and services that they desire.
For whom should these goods and services be produced?
The goods and services that should be produced for the general public should be produced for the people who are most in need. For example, food should be produced for the hungry, clothing for the homeless, and energy for the environment.
How do you measure customer value?
There is no one answer to this question as it depends on the specific context and company. However, some common measures of customer value could include customer satisfaction, brand loyalty, andROI.
What are the factors responsible for changes in value of money?
There are many factors that contribute to changes in the value of money. Some of the most common ones include:- Economic conditions- Political stability- Changes in technology
What is standard of value in business valuation?
The standard of value in business valuation is typically a discounted cash flow model that uses a multiple of the current market value of the assets to calculate the value of the business.
How do you determine the prices of goods and services Brainly?
There is no one definitive answer to this question. Different businesses have different pricing structures, so it’s difficult to say what the average price of a good or service is. However, some tips that may help you determine the average price of a good or service include looking at the average prices of similar items on different websites, checking competitor prices, or contacting the business directly to inquire about pricing.
Why does the government impose price floors and price ceilings in certain markets?
Price floors and price ceilings are used to prevent market distortion, which is the act of making one product or service more expensive than another. For example, the government might put a price floor on gasoline to prevent people from using too much gasoline to get around.
How would you decide the price of a new product?
There is no one definitive answer to this question as it depends on a variety of factors, including the product, the market, and the preferences of the customer. Some factors that could influence the price of a new product include the novelty of the product, the availability of the product, and the quality of the product.
Why is it important to determine the price of a product or service?
Price determination is essential for businesses in all industries, as it determines how much to charge for a good or service. Price determination can also help businesses make informed decisions about which products and services to offer, and which ones to withdraw from the market.
What I have realized about quantitative research?
Quantitative research is a type of research that uses quantitative methods to study things like how much something costs or how many people are in a certain area.
Who decides how the goods and services will be produced in a mixed economy?
In a mixed economy, there will be a variety of producers and consumers. This means that different people and businesses will have a say in how the goods and services will be produced. This can be good or bad, depending on the situation.
What is the term which refers to the medium in which prices and values are expressed?
The term which refers to the medium in which prices and values are expressed is money.
Which function helps in measurement of value of goods and services?
The function that helps in measurement of value of goods and services is the function of cost of goods and services.
What are the good values?
The good values are:1. Service: Always go the extra mile to help others.2. Equality: Be kind and compassionate to others, regardless of their differences.3. Integrity: Be true to your word and be honest with others.4. Respect: Be kind and take care of others, even if they don’t deserve it.
What factors affect the value of money?
There are many factors that affect the value of money, but some of the most important include: the economy, interest rates, the value of different commodities, and the availability of resources.
How is value determined and measured?
Value is determined and measured by how much something is worth to a particular person or group.
What is meant by a price floor describe the logic of considering a product’s variable costs to be its price floor?
When a company sets a price floor, it means that it won’t allow any increase in the price of the product above the set price. This is done to ensure that the company’s customers have a fair and equitable price for their product.
What is measure of value?
What is the measure of value?
Why does government imposed price ceiling and price floor on certain commodities who are the beneficiary of both?
The government imposes a price ceiling and price floor on certain commodities to ensure that the prices of these commodities do not rise too high and impede the efficient allocation of resources.
What is money and why is it valuable?
Money is valuable because it is the means of exchange for goods and services. It is also the currency of many countries.
How does a society decide who gets what goods and services?
In a capitalist society, people can earn money by providing goods and services to others. This system allows people to trade goods and services with each other and make money. In a society where there is a centrally controlled economy, people may not be able to earn money by providing goods and services.