Illustrate other than price many factors
Illustrate other than price many factors determine the outcome?
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Other than price many factors determine the outcomes are:
1. Equilibrium price will remain the same if either the buyers or the sellers have changed.
2. Most important distinction to make is to determine if a change has occurred because of something that has affected the buyers or something that is influencing the sellers.
3. A change in any of the determinants of demand will shift the demand curve and cause a change in quantity supplied.
4. A change in any of the determinants of supply will shift the supply curve and cause a change in the quantity demanded.
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