Products like structural steel are sold in the market. Money is used as the medium of exchange of those products having overtaken barter trade which saw people exchange physical items. Therefore in the market supply, being the sellers and demand being the buyers interact to trade and exchange the goods at a given price.
Sellers are willing to bring products to the market to be sold at any time. However there are many factors that affect their willingness and the quantity they supply to the market. Since their biggest objective is to maximize profits, they avail more when prices are high so that more are paid for their items to earn more profits. It is reverse however when prices are low as they will experience more demand and make little or no profit hence not willing in such cases to bring more stock to the market.
To create an enabling environment, the government does ensure there is peace and stability in the society where the market operates. It will therefore also affect goods for sale through its actions for example hefty taxes on suppliers who will significantly reduce their production and the end result is low amount of products to be sold. The government may also offer subsidies on some products leading to a high demand that will affect the product available to be sold.
The entire supply side is affected by many other factors. The price of the good is the number one factor and it affects both the supply and demand side. High prices will motivate suppliers in their quest to make high profits and they will have to bring more to be sold so that they can make more money. With low prices however they are discouraged as there may be little or zero profits. This means they hold to their stocks until prices hike.
Complementary products are also a factor to affect demand and supply. They refer to those products that are used jointly, in that one cannot be consumed without the other. Is one is available and the other one is not then all of them is as good as unavailable.
Complementary goods also exist in the market and affect the quantity available to be sold. They refer to those commodities used jointly that it is, used together with others for example stoves and kerosene. If one is available in the market and the other is in plenty then it will not be purchased as its complement is not available.
Incomes to the households also affect the goods for sale. When the households get an increase in their incomes, their purchasing power is boosted and they may even shift their buying of products. They usually shift to demand more or higher level products. This therefore affects the quantity available to be sold.
Governments provide laws and regulations that affect structural steel production and selling. Suppliers may be subjected to very high taxes that will reduce their profits and hence they will be discouraged leading to low production.
Sellers are willing to bring products to the market to be sold at any time. However there are many factors that affect their willingness and the quantity they supply to the market. Since their biggest objective is to maximize profits, they avail more when prices are high so that more are paid for their items to earn more profits. It is reverse however when prices are low as they will experience more demand and make little or no profit hence not willing in such cases to bring more stock to the market.
To create an enabling environment, the government does ensure there is peace and stability in the society where the market operates. It will therefore also affect goods for sale through its actions for example hefty taxes on suppliers who will significantly reduce their production and the end result is low amount of products to be sold. The government may also offer subsidies on some products leading to a high demand that will affect the product available to be sold.
The entire supply side is affected by many other factors. The price of the good is the number one factor and it affects both the supply and demand side. High prices will motivate suppliers in their quest to make high profits and they will have to bring more to be sold so that they can make more money. With low prices however they are discouraged as there may be little or zero profits. This means they hold to their stocks until prices hike.
Complementary products are also a factor to affect demand and supply. They refer to those products that are used jointly, in that one cannot be consumed without the other. Is one is available and the other one is not then all of them is as good as unavailable.
Complementary goods also exist in the market and affect the quantity available to be sold. They refer to those commodities used jointly that it is, used together with others for example stoves and kerosene. If one is available in the market and the other is in plenty then it will not be purchased as its complement is not available.
Incomes to the households also affect the goods for sale. When the households get an increase in their incomes, their purchasing power is boosted and they may even shift their buying of products. They usually shift to demand more or higher level products. This therefore affects the quantity available to be sold.
Governments provide laws and regulations that affect structural steel production and selling. Suppliers may be subjected to very high taxes that will reduce their profits and hence they will be discouraged leading to low production.
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