Question

this industry is known as demand support for many other industry. (a) identify the industry.
(b) write any three points to explain why it is called demand support.​

Answer 1

Answer:

(a) Every company or business is part of an industry. Likewise, every product fits into an industry. Industries have been defined and codified by the U.S. federal government. Some industry information is organized by the industry code (a number) rather than the industry name. There are several ways to identify the industry and obtain the industry code.

(b)

Explanation:

Demand is an economic principle referring to a consumer's desire to purchase goods and services and willingness to pay a price for a specific good or service. Holding all other factors constant, an increase in the price of a good or service will decrease the quantity demanded, and vice versa. Market demand is the total quantity demanded across all consumers in a market for a given good. Aggregate demand is the total demand for all goods and services in an economy. Multiple stocking strategies are often required to handle demand.

Income demand is the willingness of a consumer to buy a certain product at a given income level and price. If income goes down, demand goes down. If income goes up, demand goes up. Price demand: Price demand refers to the quantity of a certain good that a consumer will buy at a certain price.Sep 27, 2020