International Environment of business
International trade
International trade
Kartei Details
| Karten | 99 |
|---|---|
| Sprache | English |
| Kategorie | VWL |
| Stufe | Universität |
| Erstellt / Aktualisiert | 09.10.2017 / 10.04.2018 |
| Lizenzierung | Keine Angabe |
| Weblink |
https://card2brain.ch/box/20171009_international_environment_of_business
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| Einbinden |
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What is the market demand?
Sum of the quantities by all buyers at each price
What happens when the price changes?
Movement along the demand curve
what happens when the demand changes?
shift in the demand curve
What is the substitution effect?
Price is lower comparedto similar products-->Demand increases-->D-Curve moves to the right
what is the income effect?
Income remains the same but price falls-->demand increases-->d-curve moves to the right
name other examples than price that can lead to a shift in the demand curve
Income, prices of related good(substitutes and complements), tastes and fashion, number of buyers (population), expectations of consumers
what is the law of supply?
claim that the quantity supplied of a good rises when the price of the good rises.
what happens when the supply curve moves to the right?
increase in supply
