Asked by Ronald Blair on Jun 03, 2024
Verified
Which is not determined by supply and demand?
A) The wage rate
B) The interest rate
C) Rent
D) Profits
Supply and Demand
A fundamental economic model explaining how the price and quantity of goods sold are determined in a market.
Wage Rate
Wage rate is the amount of money paid to workers for their labor, per unit of time, reflecting compensation for employment.
Interest Rate
The percentage charged on a loan or paid on savings over a period, typically expressed as an annual percentage of the principal.
- Grasp the interplay between market forces in determining wages, interest, and rent.
Verified Answer
DR
dinesh reddyJun 09, 2024
Final Answer :
D
Explanation :
Profits are not directly determined by supply and demand; instead, they result from the difference between a company's revenues and its costs. Supply and demand primarily influence prices and quantities in markets, rather than the profits of individual firms.
Learning Objectives
- Grasp the interplay between market forces in determining wages, interest, and rent.