Which statement best describes the relationship between supply and demand? Price is determined when supply equals demand.
What is supply and demand in real estate?
The housing market is a good example of how supply and demand works within an industry. When the demand for housing is high, but supply is low, home prices often rise. When there is a glut of housing available in a market, homeowners may lower their prices due to less demand in the market.
What is the relationship between supply demand and price quizlet?
The Law of Supply states that producers are willing to sell more of a good or service at a higher price. What does the Law of Demand state? The Law of Demand states that when price increases, demand decreases and when price decreases, demand increases.
Which term best describes the relationship between price and demand?
The relationship between the quantity demanded and the price is known as the demand curve, or simply the demand. The degree to which the quantity demanded changes with respect to price is called the elasticity of demand.
What is the relationship between supply and demand in the market?
The law of supply and demand is the theory that prices are determined by the relationship between supply and demand. If the supply of a good or service outstrips the demand for it, prices will fall. If demand exceeds supply, prices will rise.
What is a decent credit score to rent an apartment?
It's simply a business decision. Most individuals or companies renting an apartment want credit scores from applicants to be 620 or higher. People with credit scores lower than 620 may indicate a high risk of default on rent owed.