Answered

At Westonci.ca, we connect you with the best answers from a community of experienced and knowledgeable individuals. Connect with a community of experts ready to help you find accurate solutions to your questions quickly and efficiently. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

Explain how non-price determinants can affect the price of a product by impacting the product’s supply and demand.

Sagot :

Tundexi

The supply of substitute goods is the non-price determinants can affect the price of a product by impacting the product’s supply and demand.

An example of non-price factor that determines demand is the price of related goods.

Also, the substitute goods also affect the demand of related goods when their supply increases or decreases. A very good example is when there is a drastic decrease in gas prices will lead to an increase of cars on the road.

In conclusion, the supply of substitute goods is the non-price determinants can affect the price of a product by impacting the product’s supply and demand.

Read more about Demand

brainly.com/question/25585026

Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Thank you for trusting Westonci.ca. Don't forget to revisit us for more accurate and insightful answers.